A basic introduction to Home Insurance
We want to help our business partners and adviser firms to offer and sell more Buildings & Contents insurance to their clients.
We have created a resource centre that contains guides, product information and marketing tips to assist individual advisers or firms when they are talking to clients about their Buildings and Contents needs.
If you are registered with us, you will be able to log in and view a suite of constantly growing materials but the 3 items below will give you a snapshot of some of the information you can use when you work with us.
As an adviser, how you can add value to your clients and why they should look to buy their Home Insurance from you.
This form is for use when estimating the total value of your belongings / contents in your property. The quickest way to calculate the value of your contents is to systematically go through every room in the house and make an inventory. Include as much as you can, whether it’s the contents of your freezer or a laptop. Always remember to include over looked items such as soft furnishings, curtains and clothes. Also carry out an inventory of the shed, garage or outbuildings because garden tools like a lawnmower or perhaps a bike can be expensive.
You then need to calculate how much it would cost to replace every single item on the list with a new equivalent. The internet could help if you cannot remember the item value or you might be able to find old receipts. Remember to keep the list up to date as we constantly acquire possessions throughout our lives, especially if you buy a new sofa, TV or other more expensive items. Finally, if you have any antiques, we often recommend that you call in an expert for a valuation.
When you have a total, you can obtain a contents insurance quotation from Assurant for at least that amount, please be aware it is at all times the responsibility of the policyholder to ensure the total figure reflects the true replacement cost of your possessions.
We have designed our quote system so the first stage is a quick “click and select” process. This allows you to give us some key information to indicate which insurers may offer cover and an initial indication of a premium.
We know it can be harder than ever to place your client’s mortgage business while still maintaining the level of service you want to offer and your clients expect. A lot of our larger adviser firms have hired specialist staff to deal with Home Insurance; others have allowed their administration staff to manage the quoting of home insurance business. We are able to give help and support however you want to work, offering training generally and on our own products and system.
If you do not have the time or resource then we can still help you offer Home Insurance to your clients. Build in to your fact find and sales process to ask the question and then take advantage of our Gold Service referral option. You give us the name and contact details of your client(s), we take care of the quote, sale and compliance responsibility and then pay you an Introducer commission. If you want to look into this more, look at the Refer Your Clients button at the top of this page or contact us for more detail.
If you look at the commission as a one off payment, it may not seem as good as other products you can offer your clients (on average a £30 pm premium may generate approximately £90 commission). However, if you offer Home Insurance to all of your clients and look at it over a longer period, you may be surprised at how quickly this income stream can grow. Look at our commission calculator in the How it works section to see how valuable this could be to your business and your income.
Your clients come to you for your knowledge and expertise for mortgage and financial advice. This is no different to the service you can offer them for their Home Insurance, your clients need and will appreciate the advice and service you can offer them over and above price comparison sites. You know your clients and can ensure that the cover and excesses on the policy are appropriate and will meet their needs. We all appreciate price is an important factor when choosing a policy but it should not be at the detriment of the cover.
We offer support from our dedicated Business Development and Account Managers who are here to assist you on any aspect of general insurance. Whether that be questions or queries regarding specific clients or properties, general or product training on the Quoforma + system to quote or submit policies, we are here to help you.
In addition to this, we also offer a full suite of training, marketing and sales materials for advisers that are registered with us – click here to view some examples under our Education section or login to access the full suite.
To contact us, please call us on 03332 000 444 or email us firstname.lastname@example.org.
The Account Manager contact for your area is listed below:
Ashley Mulby – Scotland and NI
Atif Ali - Central and South East
Amanda Ibbotson – South West and Wales
Joe Wood - North
We also offer face to face support from our Business Development Managers. Please do get in touch if you would like an appointment to discuss developing your B&C business:
Mark Pink – covering the North, Scotland and Northern Ireland
Monita Suter - covering the South, Wales and Midlands
Commission is earned on each policy sold and also at renewal. A monthly commission statement is generated and all commission is paid upfront on an indemnity basis. Commission is triggered when the policy starts and will be paid the month after a policy starts. The commission statement information is prepared at the start of the month and paid to you within that month. If you have the authorised set up, you will be able access your commission statements from the Dashboard section when you login.
If you or your client needs to make any changes to your policy, please contact us. We can then go through the policy amendment and advise if it will affect the premium and then re-issue a new schedule.
As long as you are registered to advise your clients on the suitability of their Home Insurance, we will continue to pay your renewal commissions.
If you are no longer registered to advise your clients on the suitability of their Home Insurance, we can offer you the following options:
Gold Service allows you to offer your clients Household and Landlords’ insurance through a referral process, enabling you to earn commission with very little work from your side. It’s an ideal way of taking the weight off your shoulders without the service you offer to clients falling down.
All you need to do is complete a short online referral form, and a member of our professional, expert Gold Service team will call your clients on the specified day and time.
Using our Gold Service eliminates your compliance risk, as we ensure that the service provided meets customers’ needs and are responsible for all compliance and regulatory requirements.
You will receive an introducer commission of 17.5% on all policies we sell and will continue to receive this on every policy renewal.
If you have an existing Assurant agency, login to the adviser portal, click on Refer Your Clients and provide details of the customer you’d like us to contact - we'll do the rest!