Conveyancing
Insurance
Even before you bought your new home, you will be required to purchase some insurance. You might be asking "why?" at this point, but the answer is pretty simple, and it is to your benefit: You have an interest in the home, so, if anything happens to the property before you sign on the dotted line, you're covered.
As soon as you sign the paperwork, you'll want to get the house insured. Now that you own the home, you will want to protect that investment from any damages. The insurance you purchase here will protect you against losses due to fire, flood, or other maladies. Additionally, your lending institution will not release the funds to purchase the house without you having purchased insurance. Some banks and lenders provide their own insurance that you can buy, it is a good idea to shop around and get some quotes.
Another type of insurance that you're required to get is mortgage protection insurance. This type of policy protects you and your loved ones in the unthinkable event of your passing. While it's never pleasant to think about death, it is a relief to know that this type of insurance protects your family if you die. Essentially, your mortgage gets paid. This type of insurance is also known as life assurance. There are many different "levels" of life assurance; some of the more inexpensive ones cover your death only, and the amount of insurance decreases with the policy's life. That is to say, the more you pay on your mortgage, the less the insurance company would have to pay if you die.
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The solicitors at Damian Nolan & Co.,
Solicitors (incorporating William A.
James & Co.)
have more than 40 years of combined experience
in the following areas of law:
Residential conveyancing, commercial conveyancing, family law, divorce, separations, child custody matters, personal injury*, business law, wills and probate, civil litigation*, employment law, defamation, civil litigation*
Telephone:
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