Economic Downturn Brings Changes to Household Insurance Marketplace, Says Quoteline Direct
Phil Stevens, Business Development Manager at Quoteline Direct, looks at shifting trends in the insurance marketplace in response to the Credit Crunch.
(PRWEB) February 13, 2009 -- Ask any business guru what's the key to surviving the Credit Crunch and you'll get the same answer flexibility. And according to Phil Stevens, Business Development Manager at Quoteline Direct, the home insurance market is no exception.
"Over the past six months we have seen significant changes in the type of insurance product that the public wants" begins Mr. Stevens, "and it's now more important than ever that we listen carefully to our customers needs."
So how exactly has the insurance marketplace been changing?
"Taking household insurance as an example" continues Mr. Stevens, "we have seen a considerable increase in the number of people purchasing 'unoccupied property insurance'. It's a direct result of the collapse in the mortgage market and the knock-on effect it's had on the housing market.
"The Credit Crunch has also caused a marked increase in the number of 'accidental landlords' looking for cover. It's a term used to refer to those who have been forced to become landlords due to the market slow-down.
"Our figures also show that landlords are becoming increasingly cautious across the board. A growing number are requesting 'rent guarantee cover' as they are unwilling to take the same risks as in happier economic times".
So with the insurance marketplace changing how is Quoteline Direct responding?
"Quoteline Direct is well-placed to react to changes in the marketplace" continues Mr. Stevens "in fact; we are much better placed than much of our competition. It's our 40th birthday this year, and in these challenging economic times customers want to know that they are working with a company they can really trust.
"However, it's the fact that we really do listen to our customers' needs that really keeps us ahead of the game. We have a dedicated household insurance team who know the marketplace inside out, and it means that we can better tailor insurance products to fit individual needs than most brokers or aggregators.
"Our industry standing means that we have got access to some of the most competitive products you'll find anywhere, and we specialise in providing insurance for properties which are typically difficult to cover. In fact, there aren't many properties we can't find insurance for, including: subsidence insurance, high value homes, listed buildings, unoccupied property insurance, thatched roofs and flood risk insurance.
Notes to editors
Quoteline Direct is an online insurance brokers specialising in cheap car insurance, home insurance and van insurance. As part of Wilsons Group, Quoteline Direct can draw on 40 years of experience in the insurance marketplace.
If you have any queries relating to this Press Release, please email Nick Maynard nick @ thewebproject.co.uk or tel: +44 1865 890552
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