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Negative equity protection for homeowners

Protection specialist Equity Protection Policy UK has launched an insurance product to protect home owners from the effects of negative equity.


The Equity Protection Policy guarantees the value of a homeowner&#39s property for a ten-year period. The level of cover chosen is fixed at outset and can be up to £10,000. It is payable as a single premium.


The policy is being marketed and distributed by the company and is the result of co-operation between it, HSBC Insurance Brokers and Royal & SunAlliance.


The policy exclusions prevent any claims being made in the first three years or for the first £2,500 of any negative equity.


The premium for £10,000 of cover is £630 plus insurance premium tax.


Commission is negotiable with Equity Protection Policy UK.

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