Attention: Short-Term Insurance Brokers
Experience has taught us that approximately two thirds of all residential homes and contents are underinsured by between 20 – 50%. The reality is that very few property owners are correctly covered.
A professional valuation is not expensive
Unfortunately, many people still shy away from getting a professional property valuation done as they assume that it will be too costly. Some prefer to either rely on an estate agent’s free guesstimate or to simply insure their home for its purchase price or assumed market value.
A professional valuation helps brokers
We beg to differ. A professional valuation can be quite affordable and certainly is money well spent when considering its many benefits – particularly for the insurer:
1. Attract new clients: Offer to share the cost of a professional valuation.
2. Add value to your service: Offer to scrap the ‘average’ clause.
3. Pass on the responsibility: Let the valuer recommend a sum insured.
4. Improved client care image: Happy clients tend to be more loyal to their broker or insurer.
5. Increased earnings: More correctly covered clients converts to a higher premium income.
6. Reduce your costs: Fewer client disputes reflect favourably on your claims handling costs.
7. Less insurance fraud: Reduce the incidence of fraudulent claims through proof of ownership.
8. Lower loss ratio: Higher premiums, lower costs and less fraud.
9. Competitive edge: Lower costs allow you to price your short-term offerings more competitively.
Advise your clients on the benefits they will enjoy with a professional valuation in hand, e.g. having the assurance of being adequately insured with full recovery in the event of a claim.
No averaging and no disputes! Contact us for a quote today.
Another blog you might enjoy: Our checklist for insurance valuations.
