Uinsure launches flexibly priced product

18 January 2010 | By Natalie Thomas

The company has launched a building and contents product from Fortis called Uinsure Flexi that allows brokers to change the price and benefits available on the policy.

Brokers can vary the excess clients have to pay before making a claim, with excess amounts ranging from £100 to £1,000.

This echoes features available on comparison websites such as Confused.com whereby customers can choose the level of excess they wish to pay by moving a sliding scale.

Brokers can also choose to forego some of their commission to secure clients cheaper premiums.

Simon Taylor, chief executive of Uinsure, says: “With this deal we are giving brokers the chance to reduce premiums to win business.

“Because of the recession there is increased pressure on premiums and we believe that with Uinsure Flexi we have the answer, offering the facility to vary excesses and premiums case by case.”

Mike Fry, director at Halton Insurance Services, says he has a similar arrangement with life assurance companies where he takes a smaller percentage of the commission on offer.

He says: “This is the way forward.

“Where there is innovation other firms will follow. If a broker is taking £40 in commission rather than £20 and that comes off the premium it must be a good thing.”

The product also offers a 15% discount to first-time buyers that is automatically applied to the premium.

The firm has also introduced a buildings and contents product specifically for landlords.

Uinsure Buy-To-Let offers buildings and contents insurance with optional accidental damage cover, built-in legal protection, a home emergency option, and rent arrears protection.