Berkeley Alexander upgrades Landlord Product with Covéa Insurance
General insurance provider, Berkeley Alexander, has today announced an upgrade to its Landlord Buy to Let product underwritten by Covéa Insurance which reduces the premium rates significantly across the majority of postal areas. At the same time it introduces full cover for unoccupied property for up to 60 days from the policy start date, allowing landlords time to find a tenant.
Geoff Hall, Managing Director of Berkeley Alexander explains the significance: “We already offer a wide range of landlords-related insurance via our online quote and buy system, and whilst we’re already catering for most customer scenarios, this was one area where we identified a gap in the market. When a landlord buys a property, it is generally unoccupied to begin with as it takes time for the landlord to find and install tenants. Landlords have found it difficult to secure appropriate buildings cover for that period, as many insurers will restrict cover from day one or not offer cover at all.
“The upgrade of our product with Covéa Insurance means that landlords in this position will now have full cover for up to 60 days from the policy start date to allow them time to find a tenant. If the property is still unoccupied after 60 days, then cover can continue for a further 30 days, but with restrictions. If it is still unoccupied after 90 days, then cover must cease, but at that point we at Berkeley Alexander can arrange a specialist unoccupied property policy for them.”
The Covéa Insurance Buy to Let product is part of BA’s panel of online and offline Landlords insurance products, adding to what was already one of the largest panels available to UK financial advisers.
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For further information please contact:
SJ Wrigley, Spotlight Consulting: sj@spotlightconsulting.co.uk 07909546104
About Berkeley Alexander Ltd:
Berkeley Alexander Ltd is a general insurance provider, offering IFAs and mortgage brokers a wide range of personal and commercial lines of insurance. Drawing on a large number of insurers, it’s known for its comprehensive range of competitively-priced products, and for its innovative approach to distributor partnerships.