We don’t charge a fee for our service. This is because, when it comes to protecting things as important as your health and finances, it shouldn’t cost the earth.
Instead, we work closely with our providers, and when we set up a policy with one of their products, they provide us with a finder’s fee.
As a result, we can offer our 5-star service with no fee attached, and you can focus on protecting what’s important to you.
Yes, you can take out a policy online through Drewberry. Simply select the ‘Apply Online’ option once you’ve completed a quote form.
If you want to speak to an adviser, select the ‘Call Me’ option. You can also find the details for an Independent Protection expert at the top of the quote results page.
You’ll only speak to one person from start to finish, with a direct email and phone number to reach them. No need to worry about automated messages or explaining your situation every time you speak to us.
We’re completely independent and impartial, which means we can compare quotes from a host of different providers. It also means we can negotiate better premiums than going to insurers directly.
We compare between leading Mortgage Payment Protection Insurance providers:
No, it’s not compulsory to have Mortgage Payment Protection Insurance to take out a mortgage.
Although it isn’t compulsory, we recommended that you take some steps to protect a financial commitment as big as a mortgage.
The question to ask is, how long would you be able to keep up with your mortgage payments if you couldn’t work? If the answer is not long, you might consider looking into how you can protect what you’ve worked hard to build.
There are three main types of Mortgage Payment Protection Insurance:
Mortgage Payment Protection Insurance (MPPI) and Income Protection (IP) are similar in the way they provide cover. They both pay out monthly to cover your expenses if you’re unable to work because of an accident or illness. Unemployment is also available with both.
There are some differences, though:
Mortgage Payment Protection Insurance can be effective and affordable protection for a mortgage if you’re unable to work.
Income Protection is a more comprehensive option. It covers up to 70% of your monthly earnings, which is useful if you need to cover more than your mortgage. It can also provide long-term protection and can cover you for your ‘own occupation’.
The cost of monthly premiums for Mortgage Payment Protection Insurance depends on a variety of factors, including:
Yes, if you have a joint mortgage, you can get Joint Mortgage Payment Protection Insurance. It will provide cover if one of you falls ill, has an accident or becomes unemployed.
We usually recommend that people take out separate Mortgage Payment Protection Insurance policies because the price difference is minimal.
Exclusions can differ between insurers, but there are some common ones to look out for:
A deferral period (sometimes called an excess period) is the amount of time you need to be out of work before you can claim on your Mortgage Payment Protection Insurance.
The shortest deferral period for Mortgage Payment Protection Insurance is 30 days and you’ll have to wait another 30 days to receive your first payment, unless you opt for back to day one cover.