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Insurance

Insurance Policies

Nobody likes to think of the worst or what would happen if things went wrong, but what would happen if you were unable to work, due to long term illness or disability?

How would you pay your mortgage or meet your other monthly commitments? How would your partner meet the monthly mortgage payments, in the event of your death or the diagnosis of a critical illness?

These are things you really should be mindful of and failure to meet monthly mortgage repayments could result in mortgage lenders repossessing your home.

We understand how important it is for you to protect yourself, your family and your home. With our experience and expertise, we can tailor a package for you to suit your needs and ultimately your budget.

We can advise you which cover is suitable and explain the benefits and extra options available so you can be sure you arrange the right type of policy.

Life Cover and Critical Illness

Planning for the future to protect you and your family.

Whatever your stage of life, how would your loved ones cope financially if you were to die or if you were to be diagnosed with a critical illness?  We offer a range of insurance policies from a number of leading insurers which can pay out a lump sum in times of these unfortunate events. We can also arrange policies which will instead pay out a monthly benefit should you be unable to work through accident or sickness.

We’ll help you work out how much cover you need and can afford by assessing your situation. In the event of your death, it may not just be a mortgage you want to have paid: you may want to leave your loved ones enough money to cover income you would have earned or pay for University fees etc.

There are other features associated with Life and CIC policies, and we will clearly explain how each additional feature could benefit you, allowing you to make the decision on how to best tailor your policy.

Make an Enquiry about our Life Cover and Critical Illness

Income Protection

A monthly benefit, paid if you are unable to work.

An Income Protection policy is one of the most important insurances that you can consider, as without your income, your life style would probably change dramatically. What would you (or your family) do if you could not work due to disability or ill health? If you had a reduced income, how would you pay your bills? Could you survive on State Benefit alone? Do you know how much you’d actually get from the government, and for how long?

An Income Protection Policy is designed to protect your income if you are unable to work as a result of disability or ill health. Unlike an Accident, Sickness & Unemployment (ASU) policy which typically has a maximum term of 1 or 2 years, an Income Protection policy can have a significantly longer term, and typically a successful claim would pay out a monthly tax-free income after your chosen deferred period  until  either you recover and return to work or you reach your selected retirement age. Unlike an ASU policy, Income Protection policies typically do not protect you against redundancy.

The maximum cover you can have is usually between 50-60% of your gross income. However, as the benefit is paid tax free, you can replace a high percentage of your income in the event of long term incapacity.

Make an Enquiry about our Income Protection

Family Income Benefit

Protecting your family against the death of a breadwinner.

Do you have children? What if your breadwinner’s income stopped in the untimely event of their death?

Family Income Benefit (often known as FIB) is one of the primary and relatively inexpensive insurances which should be considered by families with children. It is a form of Term Insurance cover, in that it pays an amount on the death of the insured person for the term of the policy. However, it is designed to pay an income, rather than a lump sum, for example to provide a replacement income (or to cover childcare costs) until the children reach a certain age or become financially independent.

This type of policy never acquires a surrender or cash-in value, and is not a savings policy. It is there to protect the family from the financial effects of a tragic early death of a breadwinner.

Make an Enquiry about our Family Income Benefit

Private Medical Insurance

A Premium Health Service. Private Medical Insurance is available for individuals, families, and company owners and employees. It’s an insurance policy that will pay for a variety of medical expenses incurred from private treatment, usually when referred by a GP. With PMI you get a premium health service, ie you avoid the months of waiting for a National Health Service (NHS) appointment and in some cases you’ll get access to new, expensive treatments and drugs that aren’t available on the budget-strained NHS. PMI is an annual insurance policy, which can be paid either in instalments or as an annual lump sum (which often reduces the premiums). PMI typically does not cover dental work, optical work, pre-existing conditions (with some exceptions) or medical expenses incurred abroad, but these can be added to many policies if required for an additional premium.

More choice and higher flexibility. A PMI policy ensures you get the opportunity to choose between hospitals, consultants and specialists. Besides eliminating waiting lists, PMI also offers the flexibility of being treated at a time that’s convenient to you, including evening and weekend slots.

Extra comfort. Private Medical Insurance also offers a greater level of comfort. NHS hospitals will offer basic beds often in busy mixed wards, while private hospital treatment is often a hotel-like experience with more luxurious, quiet private rooms and a varied a la carte menu. On top of that, you also have unrestricted visiting hours so friends and family can stay as long as they want whenever they want.

Don’t save on your most valuable asset – Talk to us now for a free health insurance quote and discover how affordable it can be.

The Finance Roome Ltd acts as a credit broker not a lender.

Make an Enquiry about our Private Medical Insurance

Accident, Sickness & Unemployment Cover

Planning for the future to protect you and your family.

Accident, Sickness & Unemployment (ASU) cover is available to help cover your monthly expenses such as mortgage payments, loan payments and insurance policy payments should you be unable to work after suffering an injury, sickness or redundancy.

Many policies of this type will pay out a monthly benefit after an initial waiting period and will pay out for up to 12/24 months or return to work, whichever happens first.

In recent times we have seen the jobless totals rising at an alarming rate. Nobody knows if and when they will be made redundant and the uncertainty can be stressful. There are certain insurance companies who will offer standalone Unemployment cover. You can also arrange Accident & Sickness cover on its own to keep the monthly premium lower.

Please ask us for details and let us search for the most competitive quote.

The Finance Roome Ltd acts as a credit broker not a lender.

Make an Enquiry about our Accident, Sickness & Unemployment Cover

Home Insurance

Buildings & Contents Cover

Buildings Insurance is the most basic of cover and is designed to cover you against physical damage to your property. It is generally a condition of your mortgage contract and is required by most mortgage lenders to comply with the terms and conditions of the loan. However, it is usually acceptable for you to shop around and use the Building Insurance provider of your choice – that’s why you should talk to us.

We can search a wide range of leading Insurance companies to obtain highly competitive quotes for you to compare. We will also explain any special conditions and point out what is and what is not covered so you can make an informed decision as to which policy will best suit your needs.

Contents Insurance offers cover against fire, theft, acts of God and accidental damage to your personal belongings – different companies offer different inclusions and exclusions – you should always check your policy.

There are two main types of Contents Insurance. The first is a new-for-old insurance which will, for example, replace your TV with another one of similar brand, quality etc in the event of a successful claim. The other type of Contents Insurance is known as Indemnity insurance which provides cover for what the object is currently worth. Whichever policy you choose, it is important that the sum that you insure is an adequate and realistic amount, in case you do need to make a claim.

The Finance Roome Ltd acts as a credit broker not a lender.

Make an Enquiry about our Home Insurance

Landlords’ Insurance

Property Insurance designed for landlords.

As a landlord you aim to generate an income and obtain capital appreciation through your property investments. It therefore makes sense that you should try to protect your investments against unexpected incidents and events.

What would happen if one of your properties suffered flooding damage and became uninhabitable for 2 months whilst builders carried out repair works? How would you fund repair works and cover loss of income? Furthermore, if a tenant fails to pay you rent on time how will your borrowings or a mortgage be settled? Worse still, what if a resident suffers serious bodily injury due to an unsafe staircase? As a landlord you have a legal responsibility to provide a safe living environment. Failure to do so could leave you facing a financially crippling public liability claim.

Buying landlord insurance is the best way to protect your property portfolio and provide you with peace of mind. By having a policy in place you know that if things go wrong, you will be protected against the financial consequences.

The Finance Roome Ltd acts as a credit broker not a lender.

Make an Enquiry about our Landlords’ Insurance

Business Insurance

A range of options to protect your business

We have found that very few business owners fully appreciate their liabilities in the event of death or critical illness of themselves, fellow shareholders and key persons within their business. Arranging the right type and level of Business Insurance is vital to the security and stability of any business. Some Business Insurance policies will be required by law, while others will provide added protection when unforseen circumstances could otherwise leave you with potential problems and ultimately lead to huge setbacks for your business.

Partner & Shareholder protection

This type of protection policy would provide funds in the event of a death or critical illness of a business partner or director, ensuring continuity of the business and providing security and protection for all.

Each business partner or director takes out a life insurance policy on their own life for an amount equal to the value of their shareholding. The policy is placed in trust and on the death or diagnosis of a critical illness of a partner or director the other directors or partners receive a cash lump sum which can then be used to buy the affected shareholder’s shares. This method ensures that the shareholder’s family receive their part of the inheritance as quickly as possible with minimum disruption to the business.

Without adequate funds or agreements in place a company may be unable to buy out the deceased share of the business, leaving any remaining dependants without an appropriate level of income replacement and the company with the risk of an inappropriate member of the deceased family taking control of their business interests.

Key Person Cover

All successful businesses have one or more key individuals on whose skill, experience, knowledge and credibility the success of the business depends, and without their active presence the business profitability may be adversely affected. Key Person cover safeguards a business against the financial effects of death and/or critical illness of a nominated key person, for example, funding the salary of a suitably qualified temporary replacement while covering the considerable costs of recruiting a new incumbent.

Business Loan Protection

Many business owners give personal guarantees or even use their residential homes as security – the loss of such people can be particularly serious for a business and can also adversely affect the owners’ dependants. Similarly, if finance has come from a director’s loan account, their estate administrator has the right to demand quick repayment of the loan on the death. Business loan protection can provide the funds to ensure that these outstanding loans can be repaid in full should the guarantor die and/or suffer a critical illness, allowing the business to continue with minimum disruption or even failure.

Make an Enquiry about our Business Insurance

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