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Paymentshield adviser help.
Is Paymentshield Good? (2025 Update)
What is Paymentshield like in 2025? Competitive UK Insurer Intermediary ticks 7 boxes in 'Paymentshield Reviews'. (PROS) 1: Digital Technology 2: Reliable Reputable 3: Claims Administration 4: Personal & Business Plans 5: Defaqto Rated 6: Rider Benefits 7: Broker Only Deals. (CONS) Not on Comparison Websites?
- Flexible Range of General Insurance products
- Insurance through a panel of leading underwriters
- Paymentshield acts as an Insurance intermediary
- Broker only deals
Background - 'Paymentshield Review'
Reviews: Paymentshield Ltd was founded in 1992 as an independent company, with Insurance offices based in Southport, Merseyside.
Who is Paymentshield underwritten by? In 2009, Payment shield Ltd was acquired by Towergate Insurance, Europe's largest independently owned insurance intermediary. Payment shield insurance then was a sister company of Towergate Partnership.
From 2021, they became part of the Ardonagh Group, which one of the world’s largest independent insurance brokers. Their Atlanta insurance part of the family also includes a number of digitally focused retail brands such as Swinton Insurance, Carole Nash, Be Wiser & Healthy Pets.
Payment Shield currently has over 1 million policy holders. They are firmly positioned as one of the UK's largest independent supplier of mortgage related insurance products to the intermediary & broker sector via Paymentshield for advisers.
They are also highly rated for their products & services eg; 'Paymentshield trustpilot' reviews are often very good or excellent. Their rider benefits currently include special deals with Sky membership.
Paymentshield Intermediaries
What is Paymentshield Limited? Paymentshield is an Insurance intermediary. They specialise in Home & Landlord Insurance, Rent or Mortgage or Income Protection* and Tenants Contents & Liability. Note* Covid 19 may affect availability of certain products.
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Payment shield work alongside various selected leading UK General Insurance underwriters. They act as the administrator for their insurance policies on behalf of separate underwriters, known as 'white-labelling'.
'Payment shield Review' 2025
In this 'Paymentshield review' below, we will look at some broker only plans, key features and FAQ.
*What's MSE Martin Lewis Paymentshield Review?
In terms of the range of Payment Shield Insurance products, Money Saving Expert MSE are fully impartial in all their best home insurance buy reviews. As you maybe aware neither Martin nor MSE never endorse products.
Yes, they mention individual products & services on MSE site, but they make it very clear don't 'support' them.
What does Martin Lewis say about Paymentshield?
Money Saving Expert Martin Lewis hasn't specifically commented on any particular Paymentshield policies & how it stacks up against the competition. But Payment Shield Insurance plans are a discussed MSE forum topic.
Instead the MoneySavingExpert however comments that he does '100% recommend Contents Insurance'. He says everyone should consider this, as it protects you against loss or damage to your personal belongings. MSE says YES it's a cheap financial lifeline but the ultimate monthly costs choice is always yours.
What buildings insurance cover you need will MSE advises, will all be dependant on your own particular circumstances.
For example, he says if you're renting or own a property that's leasehold, you usually won't need buildings insurance to cover the structure of your home. This should be the responsibility of the landlord or freeholder - But he says do check.
For Combined buildings and contents they say this is a common choice if you own your home's freehold, as it's usually cheaper. He points it can also make claims easier, as there is only one Insurer to deal with.
Money Savings Expert also see the value in other insurance plans like Paymentshield provide eg; income protection.
His Home Insurance top tips include...
- Pay Annually For The Cheapest Policies: (monthly payments for your insurance - are essentially a high-interest loan)
- Better Security = Better Deals: (Better locks > More secure your home > Less you pay for insurance)
- Add-Ons: (Check what restrictions apply - unless you have extended the cover or selected optional extra 'add-ons')
- Working from Home: (If you have regular visitors or hold stock - those won't be covered on standard home cover)
- Unoccupied Property: (If your home is unoccupied for more than 30 days - check heating, gas & electric plan restrictions)
- Excess & Premiums: (When you set your excess, think carefully on cost effects upon a claim)
Martin Lewis also suggests being the Money Expert - that you "NEVER BLINDLY BUY DIRECT" expensive policy offers either via your Bank or One Insurer ie; Shop around or use a Broker.
Lastly, MoneySavingExpert also said generally remember, not all insurers plans are featured on insurance comparison sites. As brokers, we would also agree here - so let us help you shop around for your best broker deals.
'Paymentshield Home Insurance' Review
Payment shield Home Insurance is designed to protect both your home & contents. Paymentshield home insurance review shows it's available with 'new for old' replacement as standard. Also alternative accommodation if you cannot stay in your home
Paymentshield Home Insurance Key Features
- Comprehensive range of features and benefits for home and/or contents
- £500,000 Buildings cover as standard (Option to increase upto £1 million for an additional cost)
- £50,000 Contents cover as standard (Option to increase upto £75,000 for an additional cost)
- Optional extras include: Home Emergency, Accidental damage, Legal Expenses & Personal Possessions
Summary
Paymentshield House Insurance is a defacto 5 star rated product in the home insurance market. 'Paymentshield Insurance' flexible features and benefits allow you to tailor the plan to meet your own needs.
Paymentshield Review Home Insurance Case Study
Landlords Insurance Review
Paymentshield Landlord Insurance is designed to protect both your property & contents. Available with 'new for old' replacement as standard. Also alternative accommodation for tenants if they cannot stay in the house. Private Landlords and Lettings Agents can also protect their rental income against a tenant failing to pay their rent.
Key Features
- Comprehensive range of features and benefits for home and/or contents
- £1 million Buildings cover upto available
- £10,000 to £50,000 Contents cover upto available
- Upto £2 million Property owners liability
- Upto £200k tenant alternative accommodation costs
- Malicious Damage by any tenants covered as standard
- Optional extras include: Landlords Emergency, Legal Expenses & Accidental damage and Rent Protection
- Rent arrears covered up to a maximum of £2,500 per month, for a maximum of 12 months
Summary
Paymentshield Landlord Insurance is a defacto 5 star rated product in the Landlords insurance market. Its flexible features and benefits allow you to tailor the plan to meet your own business life needs.
Tenants Insurance
Paymentshield offers protection for tenants living in rented accommodation (wether furnished or unfurnished) to help protect against loss or damage to prized possessions. Ensure you're also not left out of pocket should you accidentally cause any damage to your landlord's fixtures or fittings, for which you maybe liable for under the terms of a tenancy agreement.
Key Features
- £10,000 > £50,000 tenants contents cover limits
- £10,000 tenants liability cover included as standard within contents cover
- Option to include full accidental damage, worldwide belongings cover and tenants legal expenses
Summary
To qualify for this Payment shield tenants plan: The tenant needs a tenancy agreement in place for the property they're renting. The property the tenant is renting is their main residence and within the UK.
Paymentshield's Tenant's Contents Insurance provides more flexibilty for those tenants who change properties or need to cancel their policy - as it will be offered on a rolling subscription basis.
This removes the need to have to sign up for an annual policy or any credit agreements if taking out Paymentshield tenants insurance.
Mortgage & Income Protection
Paymentshield Mortgage Protection MPPI & Income Protection IP policies are designed to give you peace of mind that, if an accident or sickness occurs, you’ll be able to continue to help pay your mortgage & bills for a selected period. Include related mortgage insurance costs and other household expenses.
Key Features
- Insure your payments for 12 or 24 months
- Variable 'waiting qualification' periods
- 30 days | 60 days | 90 days | 180 days
- Employed at least 16 hours per week
- MPPI cover Monthly tax-free income of up to £3,000
- Or 75% of your gross monthly income (whichever is lower)
- IP cover Monthly tax-free income of up to £2,000
- Or 65% of your gross monthly income (whichever is lower)
- Cover for either employed or self employed
Summary
You can have one or both plan options. Any sick pay that you may receive from your employer, doesn’t usually affect your entitlement to make a claim on this policy.
Note; Claims are not accepted for any sickness, if this occurs within your initial exclusion qualification period. Likewise, any underwritten insurance pre-existing medical condition eg; high blood pressure or cholesterol that you’ve not been symptom-free from in the 12 months before the policy start date, are also not accepted.
Due to the Pandemic 2020 s, unemployment benefit may not currently no longer be offered within this Payment shield product ie; Income protection solely focuses on accident or sickness cover. Consider also full term Income Protection PHI as a fully underwritten alternative.
PAYMENT SHIELD INSURANCE - Broker FAQ
Can you make changes to your Paymentshield Insurance policy?
If doing a Payment shield review you can often....
- reduce or perhaps extend the coverage
- remove any specific paid for policy features
- change the collection date of your usual premiums
- remove a person from a policy eg; if a couple split
The changes could be subject to underwriting based on your circumstances at the time & may well affect your premiums.
Payment shield Review | What happens at Renewal?
The Paymentshield Renewal service searches & compares customer renewal premiums from their panel of leading UK insurers.
If say another buildings insurance panel provider is cheaper, they will offer their customers the opportunity to switch to that insurer’s new business price at renewal.
How do I cancel my 'Paymentshield' Insurance Policy?
You may cancel (or amend) if doing a review Payment shield Insurance plan at any time, if your circumstances change.
Like all insurance, you do have the statutory right to change your mind within 30 days of your policy starting. The Insurers will then refund any premiums taken and your insurance cover would then end.
However, if you should cancel at any other time, you won't get anything back because your policy has no 'cash in' values at anytime.
This also means if your health changed adversely afterwards & you then tried to request your Paymentshield protection policy is put back onto cover again, this maybe declined.
We suggest you seek professional advice before taking this course of action.
Claims and Importance of Disclosure Review Payment Shield Ltd
All Insurers are in business to protect, insure & payout. Insurance cover is therefore based on your full disclosure at the time you took the original Paymentshield policy out ie; being 100% as honest & accurate as possible.
It is not always easy to remember all historic details when applying. The Consumer Insurance Act 2013 says you must not be acting careless, deliberate or reckless when applying.
Should you make a claim, your Insurers will send you a claim form for you to complete. Once received back, they will then assess if your insurance claim is valid and cross check if you originally disclosed all the correct details.
If you look at most Insurers recent claims payout and any Paymentshield home insurance review or 'Paymentshield Trustpilot' reviews, you will see that it is Good (but like most Insurers - not 100%).
Article on 'Payment shield reviews' by Martyn Spencer Financial Adviser (2025)
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