EDITION 3 | NOVEMBER 2021
9
... the team at Couture holds a vast experience of dealing with and assisting customers who , for many reasons , have lost track of the value of their home and its contents .
Their existing insurance schedule noted :
Building sum insured
£ 1m Contents £ 58,000 Unspecified jewellery £ 25,000 Existing renewal premium £ 2,300
During conversations with Mrs Doingwell , it was agreed that a review of the sums insured were well overdue and , along with guidance from the chosen underwriter , the team began an assessment that would ensure the sums insured reflected the true value of the risk . After some work from the client , the underwriter and the team at Couture , it was agreed that the sum insured would better be reflected as follows : for the underwriter , to ensure that the best possible solution is delivered to your clients at the point of quotation . This approach negates those difficult , and sometimes costly , situations at a time when the worst happens , and a claim occurs .
STATUS
As an established adviser , where you have no doubt spent considerable time developing a relationship based on trust and understanding , it is only right that your client has a right to expect that you have taken all your knowledge of their status and personal circumstances into account when supporting their lifestyle . That is not to say that , as professionals with busy lives , the understanding of the value your clients might have in their homes and possessions doesn ’ t become disjointed over time . This needn ’ t be a concern , as the
team at Couture holds a vast experience of dealing with and assisting customers who , for many reasons , have lost track of the value of their home and its contents . The danger here is that they have in the past fallen into what can be a very costly trap of under-insurance . This is not to say that a bad situation cannot then be rectified , as this team are trained to help . Here is a real-life example of how the Couture team helped ‘ Mr and Mrs Doingwell ’, by putting this particular type of issue right .
Example scenario : Mr and Mrs Doingwell are highly successful professionals residing in a substantial detached property with their seven children ( two of whom are at university living in halls away from home ).
Building sum insured £ 1.5m Contents £ 250,000 Specified jewellery £ 50,000 Unspecified item £ 30,000 Premium £ 3,000
Whilst it ’ s the case that the premium did increase by £ 700 , the client benefited from an increase in cover totalling over £ 750,000 and had the peace of mind and professional guidance of a survey by the insurer that helped with many other aspects , such as security and risk prevention .
In addition , the policy also provided cover for the children ’ s personal possessions whilst at university . Resulting in one satisfied customer with the comfort of knowing that if the worst was to happen at any time , with the correct cover in place , the insurance company are fully aware of the risk and that , should there need to be a claim , it would be paid with no fuss or delay . You will be aware of your high-networth clients for a variety of reasons and , as their adviser of choice , isn ’ t it worth the little time and effort required to ensure your client is underwritten for life and the curve-balls it can throw ?
The team will be more than happy to explain how they can support you and offer further information about how Couture can help your clients . Either visit the website GeniusGI . co . uk or call the team direct on 01273 407775 .