Underwriting agency replaces product range
APC is replacing its current range of property owners products in a bid to better tap the sector’s long-term growth.
The underwriting agency is making available from 5 October, new enhanced residential and commercial products covering 700 different types of occupant risks and sums of up to £5m in any one location.
Comprehensive cover is available as standard including protection for subsidence, heave or landslip.
Loss of rent is also covered as standard up to 20% of the building sum insured with the option of increasing this protection to 30%.
The new products will be available via APC’s on-line trading platform, QuoteMac, which has been specifically upgraded with streamlined statement of facts and the ability to obtain a quote within 3 minutes.
The MGA has also taken into account its recent changes to crime, flood and subsidence areas.
APC underwriting director Ian Russell said: “This is certainly the right time to launch new residential and commercial let products to support our brokers.
“With experts predicting a continual rise in demand for residential let property it is essential that brokers have access to the best products to help retain existing and win new landlord clients in this tough economic climate. In the commercial let sector, although the recession is holding back growth somewhat, the demand for quality cover is also remains high as investors look to protect their assets.”
The continuing squeeze on mortgage finance by the high street lenders means that would be home owners face paying hefty deposits, leading to increased demand for rented properties.
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