Credit cards, mortgages and home contents can give cause for concern if they are unprotected. Defaqto examines the best products for protection
Mortgage payment protection
New research from the Citizens Advice Bureau shows that, across the UK, its centres have reported a 47% increase in the number of new consumer credit debt problems over the past five years.
The survey concluded that one of the main triggers for debt problems for people on low pay was a change in circumstances, such as a period of ill health. The surveys shows how important products such as mortgage payment protection can be to customers. This month we look at those products available offering full accident, sickness and unemployment (ASU) cover with a 30-day deferral period.
Key features of the Natwest policy include:
Area where it lags behind other providers in the market:
Home contents policies
With summer almost here and the subsequent activity in and around the garden, it is wise to assess the often overlooked cover household policies provide to address the increased risk. Thieves undoubtedly look to exploit the easy target, and high value property in outbuildings - and the garden is just that. Defaqto has looked at a range of contents policies across all distribution channels to assess the varying levels of cover available.
The analysis shows Marks & Spencers (M&S) Home and Contents Premier product is ahead of the competition, with market leading levels of cover across most of the features chosen.
Key features of the M&S product include:
Credit card repayment protection
With summer holidays fast approaching, and very attractive 0% offers on credit cards many people will be tempted to put their purchases on plastic and pay off the debt during the rest of the year.
This month we looked at the protection provided by credit cards in the event customers become unemployed or sick, after spending on their summer purchases.
Since the last time Defaqto carried out the analysis of credit card protection there has been little change at the top. Of the 50 products analysed, Co-op Visa, Marks & Spencer and Sainsbury's Bank are clear leaders.
Key features of the Marks & Spencer storecard policy include:
Areas where the card lags behind some of the others include:
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