Now is the perfect time to revisit and review the general insurance cover and costs of your most important and valuable assets, such as your home, cars, fine art and jewellery etc and it needn't be time consuming with the right advice and guidance.
We do not charge for our review process and it is effortless and efficient. Recent reviews have resulted in some considerable premium reductions and improved cover.
The review process:
- Audit your current policies and schedules.
- Note your ongoing needs to fully understand your existing and future exposures.
- Provide analysis & suitability of current insurances, potential gaps and structure.
- Revert with recommendations across all your assets, lifestyle and potential liability exposures.
Common issues we have identified in the review process:
- Multiple renewal dates – copious documentation & administration.
- Numerous insurers/intermediaries – policy wordings not suited to your current lifestyle.
- Uncompetitive in relation to current market conditions.
- Gaps in cover – Over/Under insurance.
- Economies of scale & leverage opportunities missed.
- Lack of benchmarking by intermediary in last 3/5 years.
Ignoring correct cover can be costly, both in terms of financial loss, but also time lost and emotional distress. If something does go wrong, you need to know you're covered and you have good support and advocates to fight your corner and get you back to the position you were in before the loss.
There is no need to wait until your renewal date to review your insurances. By having a review mid-term you can swerve some of the issues of inadequate and inappropriate cover.
From an insurance perspective, the private client market is very much open for business. Unlike other classes of business whom have been badly affected by losses; private client household and specialist prestige motor insurers are keen to write new business at competitive terms, so now is the time to take advantage of this.
The current enviroment will not last forever, nor will these competitive rates, so seize the opportunity to tick insurance off your 'to do' list and deal with that niggle that you think you're properly covered, but aren't 100% certain. If you would like to talk to us further, we are always happy to help and you can speak to one of our team.