Source: Fintech Finance News

Taking out buildings insurance, which most mortgages require, can be a lengthy and complicated process. Homeowners are often locked in rigid yearly contracts, which don’t allow for changes in plans or circumstances without incurring additional charges. Monzo Home Insurance simplifies the process and gives customers more control to choose the cover that is right for them and change it at any time, with no additional fees.

Monzo Home Insurance offers cover for damage to a customer’s home from floods, fires, subsidence or even natural disasters, up to £1 million. Customers are also covered for damage and theft of belongings, inside and outside of the home including replacement of locks and keys. Cover for higher value items, accidental damage and home emergencies can be included as optional extras. The combined insurance will be rolled out to all eligible customers over the next couple of weeks.

Phoebe Hugh, Head of Insurance at Monzo said: “Your home is your biggest asset and protecting it shouldn’t be a headache. Our customers told us that they wanted something simpler – cover that actually fits their lives and changes when they do. So we’ve introduced a fully flexible Home Insurance which makes it simple for homeowners to get the cover they need, change it at any time and manage their claims – all within the Monzo app. In line with our mission to make money work for everyone, we’re already deep into developing our next protection products, to bring the Monzo simplicity to every aspect of insurance.”

Read the full article: https://ffnews.com/newsarticle/insurtech/monzo-home-insurance-flexibility/