Targeting the Landlord Market

Date: 2015-11

There is a marked preference among private landlords to buy direct from insurers, while the professional landlord space is dominated by the broker channel. However, more advice may be necessary in the private landlord space, as 57.0% of rental properties in this part of the market do not have adequate cover.

– Gain insight into the different purchase journeys of private and professional landlords.
– Examine the demographic properties and purchase preferences of the private and professional landlord markets.
– Identify gaps and issues in the market that will have an impact going forward.

– How do private and professional landlords purchase insurance?
– Who are the top players in the professional landlord space?
– What are the issues that will continue to impact the market in the future?

Key Highlights
At 57.0%, the majority of individuals who rent out properties (both in and outside of the UK) are covered by a standard buildings and contents insurance policy, instead of a landlord insurance policy.

43.6% of private landlords go directly to an insurer to purchase their rental property insurance, while 19.6% purchase from a broker.

Brokers are the dominant distribution channel for SMEs in the real estate and renting sector accounting for 52.6% of responses, while the next largest channel is direct insurers at 21.4%.”

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