Are your clients buying something valuable in this annual
sales period?
It’s a good time to check in with them to see if they need some extra cover for jewellery, electronics, musical instruments, sports/exercise equipment or other pricey items they may be purchasing during the Black Friday, Cyber Monday and Christmas sales.
Many homeowners or content insurance policies provide minimum amounts of coverage and additional coverage is often required to cover replacement costs of high-value items in the event they are damaged or lost.
It’s also important to consider business insurance clients at this time who may be purchasing equipment, fleet vehicles and electronics for their business operations to ensure their policies cover these additional items.
As we know, adding high-value items to an insurance policy also means an increase in premiums. This is where a premium funding solution can assist.
A premium funding solution helps both domestic and business insurance clients better manage the cost of insurance by spreading annual premiums out over a number of months. In addition to the cash flow benefits this provides, premium funding clients can also benefit in the following ways:
- It’s easy to add insurance endorsements for additional items to premium funding arrangements they may already have in place
- Can help relieve the burden of high premiums and reduce the risk of underinsurance by
increasing affordability - One payment for their multi-policy insurance programs
- Flexible instalment terms and payment methods to suit their needs
- No additional security is required, which means a premium funding arrangement won’t impact any other finance/bank facilities they may have in place
- The interest charges may be tax deductible
Did you know that 40% of engagements happen during the period between Christmas and Valentine’s Day?
That’s a lot of diamond rings that need insuring!
So, check in with your clients to see what their purchasing plans are during this mammoth sales period and peak engagement season and let us know if we can assist by providing them with a payment arrangement for their insurance premiums.
