All derived from our years of experience in designing policy cover and claims management for clients.
The Portfolio Landlord
Building returns for your future
On a regular basis, the let property owner should receive lower prices and a detailed explanation of what cover is needed to protect the assets. For example, if a property is undervalued or doesn’t have the correct tenancy description there are serious claims consequences.
Here an example that we’ve come across in similar words many times;
“I paid £100,000 for my 5 bedroomed HMO and got a cheap premium”
The big issue which is a regular occurrence is the fact that it has ‘little value’ as an insurance policy instrument if the £100,000 isn’t actually adequate for re-building value cover. Or, that the property is described only as a single tenancy house.
We save landlords in more ways than just saving money, and a great deal is rarely that great if the price is too cheap. Balance.
There is a major difference between a sole trader jobbing builder, and a building firm ( The business entity being ‘Limited’ or not )
Are you sure you don’t employ people – it’s not just about PAYE?
Many tradespeople will not have heard of Contract Works cover and therefore understand its meanings and implications and benefits?
So you pay the hirer to insure his equipment? Loose arrangements are common. It’s often far too complicated to be left to internet searching, to bag the right policy package. When insurance needs to be activated on a claim, it may not deliver and bring very bad news for the policyholder. The small % of minutes in discussion with a Marx Insurance expert, will save in all areas but mainly the headache of no cover. It's important also in winning contracts, the right insurance policy is presented to your customer. This helps contractors demonstrate confidence and competence to win the bigger contracts.
It is not unusual to discover that when advising new customers who already have insurance that misadvice has been given previously pertaining to their circumstances or their needs. It may be simply the details on which the price has been worked out has resulted in higher premiums. But also with prospective clients, a more dangerous situation of far more significance can be in play.
When the Marx Insurance team evaluate, we frequently find cover has been reduced or it is actually not there at all. Expertise and experience seem to have been lost along the way, or is it simply too much reliance on the online policy search and price menu?
We have countless examples of business insurance clients who have been reviewed successfully, allowing us to incorporate many missing covers. These are so necessary for their business and sector, with clear exposures being identified.
The Marx Insurance team also become extremely pleased, if we’ve been able to negotiate the more comprehensive policy for the client, at a price that reduces their overall costs.
The product is only as good, as the team behind your policies and our substantive knowledge feeds into the regular cost advantages we source for new and existing clients. Why not give us a try and entrust your insurances to the Marx team? - you’ll be in safe hands.