Tailored Home Insurance
Many home owners or tenants purchase their insurance with a click of a button, however does that work for people who need more specialised insurance?
The click and buy policies are very good for what you would class as the ‘normal standard home insurance’. This is where the cover is provided on the basis that you only require the same, or very similar, cover as everyone else in the same road. For example, £40,000 contents insurance and £250,000 buildings insurance on a 3 bedroom detached house.
Tailored Home Insurance is a specialist product and often requires a client visit to ensure that the correct insurance is put into place. Understanding a client’s priorities and lifestyle is very important. The best way this can be done is by going to see the client and building a relationship with honesty, integrity and most importantly, trust.
A professional insurance broker who deals with Tailored Home Insurance needs to know the market. Market knowledge allows them to assess the risks and advise the client which is the best insurer to meet their requirements. Some insurers will not accept a property if it is thatched or listed, but others do. Consideration of location is also of the utmost importance with regards to flooding, subsidence and other factors that will affect the premium, policy excess or cover.
The broker would also go through the whole property with the client working from room to room as they have an independent point of view. What a client sees every day can often be missed, such as a valuable work of art or antique furniture. Also, clothing needs to be taken into account. Many people forget about the contents of their dressing room or wardrobe. Check yours as you might be surprised at the value of all the items. It’s also important that you don’t forget to check the loft.
So if you are a prestige home owner what should you do? The answer is simple: speak to your insurance broker. Ask them to come and see you if they don’t already or find a broker that specialises in this type of insurance. These brokers attract employees that want to focus on this market and therefore have the relevant experience.
Insurance Brokers have changed over the last decade. The day when one person would deal with all your insurance needs has gone. Insurance brokers have had to adapt due to online competition. One Broker are an independent insurance broker who offer specialist tailored home insurance for when it is too complicated to be dealt with by the click of a button.