Make Your Move: Why Moving Home Is a GI Cross-Sell Opportunity

A home move is a seismic event in your client’s lifetime, especially for first-time buyers. Amid the flurry of paperwork, constant preparation, and planning, there’s a significant need for quality advice and support, and usually a general insurance-shaped hole.

When your client is moving homes, they’re not just packing up boxes; they’re creating this clear opportunity for you to cross-sell GI. However, this product shouldn’t be a simple afterthought.

If you’re already writing their mortgage, why not their protection too?

This is your ideal time to join the dots, providing a comprehensive mortgage and protection offering.

An Increasing Opportunity Arises

Advisers are already writing the vast majority of mortgages in the UK, with 87% of mortgages in 2024 coming from mortgage brokers. 

According to the Intermediary Mortgage Lenders Association, this figure is set to rise to 91% by 2026. Despite this incredible market dominance, many homeowners are without the correct insurance products.

76% of UK homes are underinsured, and 20% are overinsured, implying that just 4% of UK homes are adequately protected. That’s a gap worth paying attention to. For every mortgage client that purchases a home without accurate coverage, there’s the potential for significant monetary losses and risks that leave them exposed.

This begs the question: Are you making the most out of your conversations for both you and your client?

The numbers are in your favour; you’ve done all the groundwork, and now it’s time to bolt GI onto the offering.

Key Opportunities to Cross-Sell During a Move

New Home, New Risks

If the property changes, then the protection needs will change as well. Your client may not fully understand the altered levels of cover they may need.

Mortgages

As a trusted adviser, you are ideally positioned to introduce GI early in your mortgage conversations. For those clients looking to remortgage, ask them when their home insurance renewal is as part of your discussion and diarise the date to provide a quote at this point. GI can be a great annual check-in.

Act Now and Reap the Rewards

Advisers who consistently cross-sell GI, integrating it seamlessly into their mortgage conversations, not only enhance their client protection but also unlock significant growth opportunities for their business.

The best part? You’re already having the conversation. Now’s the time to make it count.

With the right tools, incorporating general insurance into your existing workflow is easier than ever. Platforms like The Source are built to support your process, offering intuitive features that make quoting and selling home insurance straightforward and efficient.

Whether your client prefers a full-service experience or a more hands-off, semi-assisted approach, you can easily adapt. With flexibility built in, you can match the pace, preferences, and needs of every client, delivering personalised GI solutions without disrupting your mortgage workflow.

Register to use the Source > https://gi.thesource.co.uk/user/register

Not ready to register, but want to find our more about our GI conversion tools? Speak to the Business Relationship Team on 02920 265 265 or email [email protected]