Economic crisis, lockdown extension, belt-tightening, furlough – all terms that are commonplace at the moment as the impact of the Coronavirus lockdown is being felt. As the country tries to plan its recovery and take steps to protect its businesses and homes, recent reports suggest that homeowners could be cutting expenditure in dangerous areas.
In an article published by Financial Reporter, Quotezone’s research “found that 14% of residential property owners haven’t insured their home, even though it’s often a contractual obligation when they take out a mortgage”; a staggering one in seven UK homeowners!
The research goes on to suggest that there is a real lack of understanding surrounding the importance of home insurance and that 83% of the people surveyed confessed they didn’t have a home insurance policy in order to save money.
As the financial predictions fill our news reports and we brace ourselves for a bumpy time ahead, homeowners will, now more than ever, need a reliable source of advice from their broker. Home insurance is a crucial part of many mortgage agreements and clients should be made aware of the implications of not holding a policy, or having the incorrect policy.
Tania Frowen, MD Source Insurance, said “I want all intermediaries to know we are here to help. These are challenging times for businesses and people alike, but we have a strong team on hand with decades of experience and knowledge.
Our platform is still available 24/7 for quotes and new business submission and our Business Development Managers and Telephone Account Managers are here to ensure you have everything you need to grow your GI income.”
To access our online platform for quotes and new business submissions click here.
If you need help and assistance call our team on (029)20 265 265.