Why you need a broker for your home insurance

Your house is likely to be your biggest asset as well as home to you and your family. It’s therefore vital that it’s protected by a good home insurance policy. But how can you go about this? Homeowners might think that by cutting out a broker they’ll benefit from cheaper insurance –however, there are many benefits to using an experienced insurance broker like Aston Lark, including potential cost savings.

Home insurance premiums

This year a combination of factors has created a “perfect storm” for insurers and clients, and we anticipate seeing premium increases of between 10% and 25% in 2022/2023. Whilst insurance isn’t just about price, now more than ever is the time to ensure a broker is working hard to get you a great deal. Here’s what we do:

• By using our extensive market knowledge, leverage, and relationships we can negotiate with insurers to get our clients a good and fair price.
• We’re available to review properties and collections in person. This enables us to potentially secure additional discounts from insurers as they trust us to give them an accurate representation of their risk – which in turn gives them the confidence to provide lower rates.
• By taking the time to talk to our clients we identify opportunities to obtain discounts. For example, discounts due to occupancy, floating limits for jewellery, or a higher excess or voluntary excess.

Quality Cover

Many new clients tell us they have become frustrated with the nameless, faceless service provided online or by large call centres – never speaking to the same person twice. They want someone they can talk to who will give them good, sensible, and independent advice about how and what to insure.

Here are a few examples of problems we encounter and subsequently solve:

• Buildings and contents underinsured, sometimes significantly. Read more on underinsurance
• Outbuildings not insured, or not noted as being of a non-standard construction (and hence potentially not insured at all). Read more on outbuildings insurance
• Antiques insured as ‘contents’ (which is normally more expensive with less cover).
• Jewellery sums insured not taking into account a husband’s watches and cufflinks.
• Sums insured not taking into account clothing, bikes, and sports equipment.
• Inadequate alternative accommodation cover.

Cover restrictions are typically in the policy wording – often referred to as the small print – so you’d be forgiven for missing them. But we won’t miss them. We assign to each of our clients a dedicated account handler who ensures that the level of cover bought is understood. Plus, we help find policies with fewer restrictions and higher limits.

Our trusted partners

Our clients have challenges beyond insurance, and we often introduce them to businesses who can provide a range of other services. These include:

• Valuation companies: We have a panel of recommended valuation companies who assist our clients by not only valuing pieces now but also giving up-to-date valuations going forward. A client of ours recently found that his Patek Phillipe watch, insured for £15,000, would cost £27,000 to replace. Increases like this aren’t unusual in today’s jewellery market and the price of diamonds and precious metals are particularly volatile.
• Security companies and property management companies: Should a client want to discuss security upgrades to a property or plan on leaving a property unoccupied for a prolonged period.
• Surveyors and engineers: For any structural problem with a property.

Next steps

For many of our clients, we not only find them the right home insurance policy but also take away the strain of finding one. So why not make us your trusted insurance adviser?
We’ll help at inception, renewal and when you need to make changes. We communicate in a way that’s most convenient for you – via email, phone, or letter. And if you’d like us to visit you at home, we’ll do that too.

In short, Aston Lark will make sure you’re properly insured and paying the right price for the most suitable policy. And if you have a claim, we’ll be there to help.

Insurance advice

To speak to Howden about your insurance, please call 020 8256 4901 or email privateclients@howdeninsurance.co.uk