Residential property portfolio insurance

[Portia5]

Having used the same broker for some years its probably time I shopped around to get a competitive quote.

Any suggestions?

[MOMACC]

Why?

Your broker will be doing that for you already.

If they provide good service and you trust them why would you want to move?

Broker A - goes to ten insurers
Broker B - goes to the same ten insurers

If you pay less than £10k annually I wouldn't bother unless the service / claims team aren't working for you.

[Portia5]

The broker I've currently used for 3 or 4 years provided a better quote than its predecessor, which in turn provided a better quote than the one prior to that.

So whilst in theory brokers may be approaching the same underwriting companies and should all be getting back the same quotes, this isn't how it seems to work in reality.

Actually over a longer period of time I've had substantially different results from different brokers. So its time to go shopping again.

(and I'd love to get a sub 10 premium but that ain't going to happen).

[MOMACC]

Paying over £10k you should be working on a fee.

Remove commission from the sale, broker has no incentive to recommend the one paying 20/25 or 30%.

You also lower the amount of IPT paid this way too.

Drop me a pm with your annual spend and renewal date, if I think I can help I will.

[Portia5]

Thanks for the generous offer but I'll pass thanks.

I'll stop at seeking details of a broker with competitive appetite for resi portfolio biz.

[surveyor]

insurancejon on here is worth an ask.

[Insurancejon]

surveyor said:

insurancejon on here is worth an ask.

Thanks for the recommendation.

Property portfolios are one of my specialties

I’ll drop you a pm with my details on if that’s ok?

[Insurancejon]

Portia5 said:

Having used the same broker for some years its probably time I shopped around to get a competitive quote.

Any suggestions?

I’ve just tried dropping you a PM, but iit appears you haven’t got them switched on.

As above. More than happy to have a look at it for a fellow pher

[Portia5]

Now have a couple of great suggestions, thanks!

[J4rvis]

Insurancejon said:

Thanks for the recommendation.

Property portfolios are one of my specialties

I’ll drop you a pm with my details on if that’s ok?

Thanks for starting the thread Portia5, I'm in the same boat.

Insurancejon I will drop you a PM to see if you can help with mine.

[Insurancejon]

I've replied J4rvis

[Portia5]

Now have new policy in place on improved terms and for better premium than previous broker/underwriter offered and a lot less faff too.

Company is One Call Insurance (Commercial).

[Insurancejon]

Portia5 said:

Now have new policy in place on improved terms and for better premium than previous broker/underwriter offered and a lot less faff too.

Company is One Call Insurance (Commercial).

v big doncaster firm, their boss owns Mansfield town

[cerberaperv]

We’ve always found Towergate insurance very competitive for our portfolio.

[Portia5]

cerberaperv said:

We’ve always found Towergate insurance very competitive for our portfolio.

Do they vary the underwriter or always renew with the same one?

[flatcrest500]

We're with Towergate at the moment - they seem to use a number of different underwriters..

[Wings]

Result in having adequate insurance cover is surely at the time of making a claim. Just completed this year's insurance cover, and although I could have achieved from a new provider a 30% premium savings, but after reading the wording of the insurance cover, and checks on the new underwriters, decided to remain with the previous uears insurance company.

[Portia5]

flatcrest500 said:

We're with Towergate at the moment - they seem to use a number of different underwriters..

Yeah they've all got a panel. But does your broker stick with the same one year on year or use different ones?

[flatcrest500]

They seem to swap around, certainly on the rest part.

[flatcrest500]

They seem to swap around, certainly on the rest part.