A leading broker has described RebuildCostASSESSMENT.com as a ‘fantastic initiative’ and is encouraging others to guide their clients towards more accurate building sums insured as a way of not only treating customers fairly, but to generate significant income.
Specialist commercial property brokers Morrisons Insurance Solutions identified almost 100 million pounds worth of under and over insurance last year, and this figure is already set to grow considerably in 2019.
Senior Manager at Morrison, Jodie Horgan, commented: “RebuildCostASSESSMENT.com has been a win-win scenario for us. Our clients are getting the right cover and advice, and for us we’ve had significant premium uplift over the past six months of over £50,000.”
Mark Horgan, Director at Morrison Insurance Solutions said brokers should have nothing to fear from tackling buildings underinsurance, which affects around 80% of commercial properties.
“Just because the sum insured doubles, doesn’t mean that the premium is going to double,” he said. “You have to speak to an underwriter to get size discounts off the rate and to talk about commercial consideration. But at the end of the day the premium is going to increase at some stage and as a broker your earnings go up.
“At the same time, you’re giving the client the right solution and they are going to be insured on the correct basis. If we look at treating the customer fairly, this absolutely ticks that box, because if you’re insuring a property that’s not insured on the right basis, how is that treating a customer fairly?”
Ordering affordable building insurance valuations for your clients is easy with RebuildCostASSESSMENT.com. Sign up for an online account and start using it today. Give us a call on 01305 215535 if you need any help.