Working Smarter on Insurance Matters
Selecting the right insurance company can be more complex than is readily apparent. For example, the lowest price is not necessarily the best value.
Smart buyers seek out insurers that offer a tailored product to suit their requirements at a competitive price.
Peter Heffer of Lorica Insurance advises buyers to take their time when choosing a provider: “Look for a partner who specialises in the sector and tailors cover to your specific needs.
“Failure to understand the level of cover provided by a policy is a common pitfall for buyers, particularly in the holiday park sector. A generic broker is unlikely to understand the nuances of the sector - you need a specialist.”
With this in mind, Lorica has created an exclusive holiday and residential parks combined policy. The product is both competitive in terms of premium and provides extensive cover designed specifically for parks.
Peter comments: “Of course we cannot guarantee to save you money and improve your cover, but you can be confident that we will give it our best shot. We have experts around the country who are on hand to meet you to explain more about how we can help.”
The biggest type of claims affecting holiday parks can be split into two categories; the first is low likelihood but high severity, meaning they don’t happen very often but when they do the impact is catastrophic, for example a flood. The second type is high likelihood but low severity, meaning they happen frequently but only impact individual policyholders. For the privately owned parks these tend to be customer injury related.
Peter adds: “All policyholders have a duty to ensure reasonable precautions are taken to prevent injury or damage. This is an underlying principle applying to all insurance and owners should act as they would were they not insured.”
Lorica Insurance Brokers
Tel. +44 (0)7827 895671