Simplify your home, construction and remodeling mortgage experience

Are you going to buy, build or remodel a house? Chances are, you are taking out a mortgage to do so. In addition to borrowing capital to accomplish these real estate goals, potential homeowners often face specific conditions from mortgage lenders. One of the mortgage borrower’s conditions may require you to purchase a number of insurance policies. These insurances include temporary capital (risk) insurance, disability insurance, accident insurance, building construction insurance and home insurance. In this context, the following insurances are explained in more detail.

Temporary capital (risk) insurance

Term life insurance pays an amount upon death that can be used to pay off debts such as a mortgage or loan and offers flexibility in duration, insured amount and coverage including options for lifetime or temporary coverage.

Disability Insurance

Disability insurance provides benefits in the event of illness or accident, with the amount to be paid and the waiting period determined in advance. This insurance is suitable for salaried professionals with incomes above the SVB wage limit, self-employed professionals, liberal professionals, directors and statutory directors, where the premium is tax deductible and the amount is partly determined by the insured.

Accident Insurance

Accident insurance provides financial coverage for permanent disability, death, temporary disability and medical expenses resulting from an accident. Useful for those with increased risk, such as do-it-yourselfers, athletes or those in high-risk occupations, this insurance can be tailored to different situations.

Construction insurance for structures

Construction Construction Insurance, also known as CAR insurance, covers property damage and theft of construction materials during the construction period including involved parties such as clients, contractors and subcontractors with optional coverage for the maintenance period after completion of the work.

Home insurance

Guardian Group’s home insurance policy insures your possessions in and around your home against damage from fire, rain, water pipe damage, surge, burglary and more, while contents insurance specifically covers the financial consequences of theft and damage to your belongings.

These conditions can become annoying for the mortgagee, and in some cases they may not know exactly what to do. To avoid such cases, we recommend one of our package insurance policies. We can put these together so that your application as far as insurance is concerned is easier. Our package insurances are clear and easy, fast and practical, there is one point of contact and you can handle your insurance and claims under one roof.

Want to know more about Guardian Group’s package insurance? Please feel free to contact us.