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HomeLet - Demand for insurance product for Tenant's contents insurance Doubles

Thursday, October 29, 2009

Thanks to the launch of its new Tenants Contents Insurance + product and increased demand, HomeLet has managed to double the number of policies sold in just six months.

What's more, since 2006 HomeLet has referenced over 1 million tenants, proving it is still the market-leading provider of specialist insurance products and services to the UK lettings industry.

In September 2009 HomeLet sold over double the amount of tenants contents insurance policies when compared to January 2009, with an increase of 121 per cent.

This increase indicates that tenants, who have tended to overlook buying tenants contents insurance in the past, are seeing renting as a more long-term commitment rather than a temporary stop gap.

Since the onset of the recession and the resulting increase in the cost of living and rise in unemployment, the number of burglaries has also gone up. Tenants, who are feeling the pinch along with everyone else, have become more aware of the value of their possessions and the cost of replacing them.

In June HomeLet launched Tenants Contents Insurance + which is designed specifically to protect tenants against the potential risks of renting a property.

As well as being competitively priced, the new product still provides specialist cover that protects the tenant's deposit by providing cover for accidental damage to the landlord's contents, building, fixtures and fittings up to the value of £2,500.

Tenants Contents Insurance + also covers the policyholder and two additional tenants who are named on the tenancy agreement, as long as they're employed, self employed or retired. This means that one policy can cover three tenants saving money and making it ideal for sharers.

HomeLet's Managing Director John Boyle said: "HomeLet has been providing tenants contents insurance for over a decade and we're constantly improving the products that we provide to our customers to ensure that we stay ahead of the market. .

"We are delighted to have achieved a 121 per cent increase between January and September 2009 and this is testament to our commitment to providing comprehensive cover at competitive prices."

Source: www.homeletuk.com

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Further information about Barbon Insurance Group

See also HomeLet (Group) Press Information:

Demand for HomeLet insurance doubles - October 2009

HomeLet releases a new Tenant's contents insurance product available via jml insurance - HomeLet rental insurance have cut the cost of tenants insurance from the 19th June 09 with a new policy that is available via jml insurance - June 2009

Barbon Insurance has acquired Zennor Ltd - April 2009

Tenants should Insure against recession related crime - February 2009

Barbon Insurance Appoints New Directors - Compliance - IT - Finance - February 2009

New Managing Director for Letsure- Barbon Insurance Group has announced the appointment of Ian Fraser as Managing Director - January 2009

New Chief Executive for Barbon Insurance - September 2008

Barbon Insurance Reveals Latest Financial Results - September 2008

EIS Completes Rebranding Exercise to Become Barbon Insurance Limited -August 2008

jml Insurance are very pleased that HomeLet and Letsure are now under the Barbon Insurance Group umbrella - August 2008

Martin & Co announces three year deal with HomeLet - July 2008

HomeLet staff gain promotions - June 2008

New Customer relations manager for EIS Insurance Solutions - June 2008

EIS sale completed - New and stable long term ownership - April 2008

EIS separates from Erinaceous Group - New and stable ownership - April 2008

Erinaceous placed in administration - April 2008

jml Insurance will now be introducing Homelet Landlord & Tenant insurance instead of Letsure - March 2008

Erinaceous puts insurance division up for sale - January - February 2008

Brian Turney has left Lumley Letsure - June 2007

Erinaceous Group Plc Opens Property Management Office in Dublin, Ireland - May 2007

HomeLet IPEX -Landlords set for buy-to-let revolution as new scheme launched - March 2007

HomeLet Rental insurance launch Portfolio Insurance from 10th July 2006 in the UK

Letsure has a new Glasgow offices December 2005

HomeLet launches new low cost option landlordís protection - July 2003

Also: HomeLet Landlord & Tenant Insurance Sponsors Negotiator Award The 2008 awards from The Negotiator Magazine took place at the London Hilton on the 11th November


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