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If you have given any thought as to how you would continue to meet your monthly commitments such as loan or credit card repayments if you should find yourself out of work through an accident, sickness or unemployment then you have probably thought about taking out unemployment cover.

Depending on where you were offered the quote you could have been left gasping at the high premiums that some high street lenders and banks charge and asking yourself if unemployment cover can be found cheaply. When you took your credit card or loan out the lender very likely offered you unemployment cover with it and if you took it then the chances are that while you have the cover, it certainly won't be the cheapest available. The press regularly highlights how consumers can get a much better deal by steering clear of the bank and lenders.

Unemployment cover can be found cheaply but only if you shop around and go to a standalone provider for the cover. A specialist in that area can offer you savings which could be as much as thousands over the term of the policy.

Unemployment cover is taken out in case the worst scenario should happen and you find that you cannot work due to involuntary redundancy, illness or accident, while still having to find the money to pay the monthly repayments on your loan or credit card. Cover will usually provide you with a fixed income for up to 12-24 months and after you have been out of work for a pre-defined amount of time. However there are many exclusions within all policies and that is why it is essential that you check the small print before signing up.

So for the cheapest and best quality in unemployment cover then do shop around and buy the cover independently.