Growing your business from Buildings & Contents sales has always been promoted as a quick win and with good reason. However with the slower residential mortgage market, this may have affected your G.I. sales.
Paul Pearce, Sales and Marketing Director at specialist Landlord and Tenant Buildings and Contents provider; Let Alliance has a few thoughts on helping boost your sales as well as providing your clients with important rental property protection.
Have brokers thought about turning their attention to the extremely positive Buy to Let mortgage market and in turn, tapped into the potential gains from providing a specialist Buildings and/or Contents policy to both their Landlord clients and even the landlords tenants?
Most IFA’s and Mortgage Advisers understand the more G.I. they sell the better their business value. The “recurring income” story is nothing new but what we are trying to do here at Let Alliance is provide advisers with a policy specifically created for the demands and needs of landlords and tenants at extremely competitive prices.
One of the great things about having Landlord clients is many of them have multiple properties meaning multiple opportunities for a Landlord Buildings & Contents policy sale. We provide additional premium discounts for property portfolios and at Let Alliance we consider a portfolio as just 3 properties.
We are urging all advisers to get in touch with their existing buy to let landlord clients or even their investment portfolio clients (as many clients with large investment portfolios also have property portfolios).
You could be sitting on a G.I. gold mine so if you have permission to do so, why not take a look at the following:
- Using the Let Alliance Mailshot template letter write to all your existing landlord clients asking if they would like an insurance review for their rental properties.
- When dealing with any new landlords ask if the tenant would be happy to speak to you about Tenants Contents Insurance. Maybe in the future the tenant will require a mortgage of their own and will come to you for advice.
- Have you linked in to your local Letting Agents? You could provide financial advice to their clients and they could manage your landlord
- Sign up for an Agency with Let Alliance and gain access to our specialist Landlord and Tenant Buildings & Contents policies. You can also utilise our marketing material to assist in any campaign.
You’re in a win/win situation. Providing your valued landlord clients with a quality product and increasing your recurring income. Remember, many landlords have property portfolios so the income earned may surprise you.
With Let Alliance, we pay Directly Authorised firms 25% Annual Indemnity commission for the life of the policy and we don’t charge any monthly admin fees.
We also deal with many Appointed Representative Networks, so please ask your Principal if you have access to Let Alliance.