Berkeley Alexander Launches New Covéa Landlord Product
15 May 2015
15th May 2015: General insurance provider, Berkeley Alexander, has today announced further expansion of its Landlords’ insurance provider panel. Covéa has now joined AXA, Zurich and Towergate, thereby further enhancing one of the largest quote & buy panels, and providing some of the most competitive rates available in the market.
The Covéa Insurance product is designed for domestic rental properties with a minimum 6 months lease, and provides buildings, contents and liability cover as standard.
Initial and renewal commission is payable at a highly competitive rate of 27.5%.
Speaking about the deal Geoff Hall, Managing Director commented: “The demand for landlords’ insurance remains high. Rental costs are on the increase and landlords are making higher and higher returns. Indeed, according to the latest ARLA Index* the demand for rented accommodation is still on the increase, and monthly rents are following suit with the average weighted rental return for houses is up from 5.0% to 5.1%, its second increase in succession. This means that not only are we continuing to see new buy-to-let landlords entering the market but also existing landlords are looking to grow their portfolios.
“Via our online quote and buy system, we already offer a wide range of landlords-related insurance, catering for most customer scenarios, but as demand increases, so does the need to offer more choice. By adding Covéa’s product to our site, we’re doing just that.”
Tim Grant, Senior Manager Small Business at Covéa Insurance also commented: “We’re pleased to be adding our product to the Berkeley Alexander panel. All of our products focus on delivering flexibility, meeting demands, and delivering the highest levels of protection, and our Landlord offering is no different. These are values that Covéa Insurance and Berkeley Alexander share, and we’re delighted to be working with them.”
