The insurance cover at this time had a £15,000 flood excess and a premium of just over £2,500. To cover the excess, an additional policy was in place for an extra cost of approximately £2,100, so a total premium for the holiday let properties of over £4,700.
As part of our ongoing commitment to our clients we constantly review their insurance risks and make sure we do our utmost to provide the best solutions.
Having been introduced to FloodFlash, Client Director, Roz Wright, felt that this could be the peace of mind solution needed by her client, Mr F.
Ahead of the September 2020 Roz looked at FloodFlash alongside an alternative provider for the main cover on Mr F’s holiday let properties. The existing provider had been taken over by another company – and more, importantly, introduced a new clause that added a significant excess applicable to both flood and storm damage, giving rise to a level of ambiguity regarding the cover provided.
Insurance is designed to provide peace of mind and it was clear that a different solution was needed. A new policy, excluding flood cover was arranged for the properties for a cost of £1,600 for all three premises.