Is it time to prime your property insurance?

In a time of high building cost inflation, your property insurance shortfall now may be greater than ever.

When you own a prime Surrey property it makes sense to pay as much attention to the buildings insurance policy as it does to landscaping the gardens and investing in exquisite décor and furnishings. Yet surprisingly few homeowners give this important detail the consideration it deserves.

John Sims, Chairman and CEO of Vizion Insurance Brokers, tells us that a startling 95% of prime property owners they visit do not have the right insurance cover for their home and should the worst happen, it is unlikely an insurance pay out would cover the full rebuild costs of their property. In a time of high building cost inflation, the shortfall now may be greater than ever, particularly for homeowners who have renewed their insurance year after year with no revaluation.

Where an insurance shortfall arises the homeowner will need to raise funds to plug the gap, either with a mortgage or savings, in order to rebuild their property, like for like.

John advises that of particular concern are listed properties, as English Heritage will insist on the property being reinstated to its former glory. Equally, where a property is being remodelled or works are to be carried out you must notify your insurer. Most insurers will exclude cover during works and therefore it is imperative that you seek specialist advice and cover before starting works of any value.

A boutique insurance broker for the discerning, Vizion embraces the traditional, service-led approach to client care. An honest and traditional broker, Vizion makes sure that their clients have exactly the right level of cover for the individual characteristics of each unique and sophisticated home.

This specialist broker believes that the only way to do that is to visit the property for a thorough assessment in person. “There is no better way of understanding our clients and what we are going to insure, than visiting the property and talking face to face.”

Prime homeowners in Surrey requesting a no-obligation buildings insurance appraisal, will be visited by John’s business partner, Director and part owner, Jeremy Guscott, former British and Irish Lions legend.

As one of the greatest talents in English rugby, with a career spanning over 20 years on the field before venturing into TV and radio commentary, Jeremy has been involved in world class and high performing teams for most of his adult life. He has since become something of a risk management expert, having learned the business from the ground up, and becoming FCA (Financial Conduct Authority) approved. Priding himself on creating honest, respected and valued relationships, whilst providing great service, Jeremy specialises in business development for Vizion, visiting clients in their homes, reviewing their insurances and broking the best bespoke product with underwriters on behalf of the client.

Jeremy says “I feel very strongly that a lot of beautiful, fantastic homes are under-insured. The worst scenario is that the homeowner suffers a major loss and is not insured adequately. That’s a heartbreaker.”

This old fashioned service that Vizion is known for means that each insurance policy is tailor-made for the individual property. John tells us of a Prime property owner who was struggling to find appropriate insurance before getting in touch with Vizion. Having been flagged as in a flood risk area, it took a visit from Jeremy to confirm that the property high on a hill was not itself at risk of flooding and a common sense approach was taken to negotiating cover.

This personal home visit and the bespoke creation of policies ensures that a prime property has a specialist prime property insurance policy at a reasonable price. Not only is the full rebuild cost set at an appropriate level, but it is guaranteed.

When clients switch to Vizion they tend to feel they have ‘dodged a bullet’ and are grateful to have been guided to a better informed choice of cover, appropriate to their individual circumstances.

What happens in the event of a claim?

Should the unthinkable happen, and a client finds themselves needing to make a claim, that is when they will experience the full benefit of Vizion’s outstanding client service.

Clients are encouraged to report a loss as soon as possible, so that Vizion can act on their behalf from the outset. Vizion will contact the insurer and accompany the chartered loss adjuster to the property, assisting with alternative accommodation where required and guiding the client through the claims process.

Vizion really do provide the missing elements when it comes to prime property insurance – old school customer service and expert professional support. Exactly what every prime property owner needs for their prime property.

Find out more at: www.vizionbrokers.com.

If you would like to receive a call/email from Vizion for a no-obligation building and contents insurance appraisal please let your Curchods representative know. Or you may contact Jeremy directly at jerry@vibl.co.uk quoting Curchods Prime.

Curchods introduces Vizion Insurance Brokers Limited for purpose of the provision of advice in relation to non-investment insurance products. Vizion Insurance Brokers Limited is authorised and regulated by the Financial Conduct Authority under Firm Reference Number 751098.