Daily Insurance Industry News
 
 
Daily Insurance Industry News
Wednesday 20th of March 2019
September 11, 2008

Marsh launches specialist home insurance product

by Richard Kilner

Story link: Marsh launches specialist home insurance product

Global insurer and risk advisor Marsh has targeted homes undergoing refurbishment with its latest specialist home insurance product, which will offer a greater degree of protection.

Typical home insurance products often exclude protection during times of substantial refurbishment.

In cases where normal products do offer some coverage, it is usually only partial, leaving the homeowner vulnerable to certain losses.

Marsh’s specialist product provides coverage for existing structures and construction works, preventing any claim from falling between the gaps between different policies.

It also provides all-party protection by covering both homeowner and contractor, preventing wrangling over responsibility should a loss occur.

In addition possessions within the property at the time of renovation are covered, as is damage caused by a wide variety of hazards, such as fire, flood and falling trees.

Sara Dunn, client executive at Marsh, explains that properties are frequently renovated without the homeowner being fully aware of the insurance implications.

Because of this, Marsh has designed the new product, to provide a more specialised policy for homeowners.

 

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