Landlords miss out on massive savings.

by Property118.com News Team

14:54 PM, 27th October 2010
About 10 years ago

Landlords miss out on massive savings.

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Landlords miss out on massive savings.

In the last week of August the new administrators of The Money Centre’s Landlords Insurance Scheme were overwhelmed with requests to switch to our new block policy for landlords insurance before the 1st of September. Sadly we couldn’t get back to them all in time to secure the business. We now have a process to ensure you don’t have to miss out ever again.

On 12th August this year we formally announced that Alan Boswells Insurance Brokers were no longer administering The Money Centre Landlords Insurance Scheme.

Our new block policy is administered by Reich Insurance which is one of the UK’s largest independently owned insurance brokerages. The new scheme, which is extremely competitively priced, is underwritten by Royal Sun Alliance.

As testament to just how competitive both the cover and the pricing is nearly 100% of our clients who received a formal quotation switched to this new scheme and experienced substantial savings.

Mark Alexander, Managing Director of The Money Centre commented; “The problem was, too many landlords left it too late and our scheme administrators simply didn’t have time to respond to all the last minute quotation requests.

“Lines were jammed with people trying to get through and in some cases people did manage to queue jump by calling our underwriters every hour on the hour in the last few days of the month.”

Operations Director of The Money Centre, Neil Patterson, commented: “I can liken the experiences at the end of August to the horrific images we’ve all seen on TV when people get crushed in the rush to snap up bargains in the January sales. Some would say this is a wonderful problem to have but we pride ourselves on exceptional customer service at The Money Centre and this experience was embarrassing to say the least.

“To prevent this from happening again we are inviting all landlords to send us their current buildings insurance policy schedule or their last renewal notice as soon as possible. Our scheme administrators will prioritise these based on the renewal date and provide alternative quotations well before your insurance is due for renewal. If you are happy with the quote, we feel confident you will be, Reich can arrange for The Money Centre Insurance Scheme to go on risk automatically on your next renewal date.

“Peak times for block policy Landlord Insurance renewals are September and March. Our administrators are geared up to deal with volume but the overwhelming volume of late requests for alternative quotations did result in many landlords missing out on September renewal savings this year. If you were one of those affected we sincerely apologise and, providing we are given sufficient notice, we feel confident that you will be able to secure the massive discounts that our economies of scale produce next time your insurance is due for renewal.”

Whilst it’s still fresh in your mind, please fax us your contact details and insurance schedule or last renewal notice to 01603 428545 or email InsuranceRenewals@themoneycentre.com



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