Fortis Hits A ‘Hole-In-One’ With The Launch Of Its New Mid-Net-Worth Product

Fortis Hits A ‘Hole-In-One’ With The Launch Of Its New Mid-Net-Worth Product

Fortis has announced the launch of House Guard Prestige, its new home insurance product for the mid-net-worth market. House Guard Prestige will be sold through the intermediary channel, specifically targeting the 1.3 million homeowners1 (12.5 per cent of the market) who require a higher level of household cover than that offered by standard products.

The new product has a maximum claims limit of £150,000 for contents (compared to £80,000 for its standard product, House Guard Extra) and £1 million for buildings (compared to £500,000) and will automatically offer £5,000 of worldwide cover for personal belongings, money, credit cards and pedal cycles. All elements of Fortis’ 5-star Defaqto rated 2 House Guard Extra product have been included, with many limits increased as part of this specialist proposition.

Additional product highlights include: House Guard Prestige’s hole-in-one golf cover which guarantees cover for customers celebratory post-game clubhouse bar bill (up to £500) in the event of hitting a hole-in-one. And for the art lover, House Guard Prestige offers 20 per cent of the maximum claim for contents.

Further benefits of House Guard Prestige insurance cover:

Contents
Student belongings cover
Parents or Grandparents contents in a nursing or residential care home cover
Hole in one golf cover
The cost of retrieving personal or business data stored on a computer
Cover for the loss of non-recoverable downloaded data
Contents in storage cover
Fine art cover
ID theft

Buildings
Accidental loss of metered water or oil
Garden cover
Alternative accommodation for up to 30 days if a local authority evacuates a neighbourhood

Adam Clarke, Underwriting Director at Fortis comments: “We have a good two-way dialogue with our brokers and have developed or enhanced a number of products by listening to what they tell us they need; House Guard Prestige is a prime example of this approach. Brokers told us that House Guard Extra is highly rated but they also wanted a product with higher limits to sell to their mid-net-worth customers. With House Guard Prestige we believe we have delivered a high quality product, supported by a claims service that is recognised as one of the best in the industry.

“Part of our strategy is to look for ways to support our brokers by broadening our product offering sold through the broker channel. The mid-net-worth market is worth 1.3 billion so there is huge potential in this market and it’s Fortis’ aim to sell £3 million worth of policies in the first year.”

Concluding, Clarke says: “Personally, I’m looking forward to congratulating the customers who make a claim as a result of hitting a hole in one on the golf course!”

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