High Value Insurance Broker – Do I need one?

//High Value Insurance Broker – Do I need one?

High Value Insurance Broker – Do I need one?

Four key points to consider before answering the above question:

1. The majority of standard home insurance policies do not guarantee full repair or replacement in the event of a major loss.  In the event of a total loss standard policies only pay out if you decide to rebuild your home.

High value home insurance policies provided by us not only guarantee full repair or replacement they also offer the equivalent in replacement costs in cash should you decide not to replace or repair immediately.

2. In the whole of the home insurance market it is estimated that 40% of homes are under insured.  As you will have read elsewhere on our website being under insured can be a disaster in the event of a loss.

Our bespoke service ensures that you are never under insured and will therefore receive the appropriate remuneration in the event of a loss.

  • Note:  Mortgage or sale price of a property does not always take into account custom work or specialist construction undertaken on your property.  Bespoke high value home insurance policies from us evaluate such costs when considering rebuild cost.

3. Our high-value home policies provide generous, if not essentially unlimited, living expenses coverage. Standard off the shelf home insurance policies never provide this type of cover and often hide the lack of cover in this area in the small print.

4. Our remit is to provide quality essential cover with attention to detail and a personal service.  We are in the business of reducing your premium while at the same time increasing your cover.  The knowledge and expertise that we bring to the market allows us to exceed our customer’s expectations in all aspects of high value home insurance.

Over the years we have noticed that the general, mass market insurance industry has moved into what can only be described as a ‘retail’ mentality when it comes to client acquisition.  You will find the best deals being offered to new customers at the expense of their current clients.  The big multi national insurance companies are prone to offering discounted rates for a time specific period with ‘only for new customers’ clauses.  Two things to note on deals such as this.

  • Firstly, for us this type of marketing, or to coin a recent marketing strap line, ‘Black Friday Approach’ is counter productive.  What do we teach our children?  Don’t treat your new friends better than your old friends.  Good friends are hard to come by and deserve your time and attention just as much as your new friends!
  • Secondly, we have learned through the many years of experience in this sector that our old clients are our ambassadors and in fact due to the high level of service that they have experienced from us are our best form of marketing.  For a bespoke service such as ours high levels of client satisfaction always leads to new clients coming our way.

So for us, not only is it prudent and frankly a nice way to do business it is also part of our marketing strategy!  By providing our old clients with great value policies it leads to new clients!  Therefore the better the deal we can acquire for our old clients the more likely we are to gain new ones.  That is the challenge we set ourselves each and every time we go to the market to place a policy for a client.

Remember that we are searching the marketplace for the right policy for you and that for us it often may not make any difference which policy you go for.  It is however in our interest to ensure that you have the right policy as it does make a difference for you.  If we can provide this high level of customer service and satisfaction not only do we keep our current clients happy we also inevitably acquire new ones.

Richard McLeod
Director at McLeod Risk Services LLP
Richard McLeod LinkedIn profile

Top tip

Using an independent bespoke insurance broker such as McLeod Insurance, can reduce the cost of your policy, whilst also achieving the broadest cover in the market.

Direct policies are NOT necessarily the best value.

By |2018-09-07T20:38:20+00:00November 29th, 2016|Home Insurance News|0 Comments

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