Virgin Money re-enters home insurance market with innovative new product for homeowners and landlords
Virgin Money is expanding its insurance proposition by launching new home and landlord insurance products in partnership with leading insurtech firm, Uinsure.
Uinsure’s innovative technology will allow Virgin Money customers to get a 5 Star Defaqto rated insurance quote by simply answering a short set of questions; including their name, date of birth and postcode in as little as 30 seconds, in a market-leading quote journey.
The cover will be tailored to the unique requirements of both homeowners and landlords and backed up by customer service that’s helped Uinsure attain an ‘Excellent’ Trustpilot rating.
Key highlights of the new home insurance product:
- Generous coverage: Virgin Money’s home insurance provides a robust £1 million of building cover and £75,000 in contents cover as standard, ensuring customers are adequately insured.
- Market-leading quick and simple quote process: A streamlined quote process, featuring an easy-to-answer set of questions, enabling them to receive a personalised quote.
- Competitive pricing: Using Uinsure’s panel of insurers, Virgin Money can offer a common product at competitive prices without compromising on quality.
- Automatic re-broking at renewal: The proposition offers a commitment to maintaining low prices year after year, as the product includes automatic re-broking at renewal, saving customers time and money.
- No hidden fees: Transparent fee structure where customers will not incur any fees if they choose to cancel their home insurance or make a mid-term adjustment.
The new home insurance product is available online, with options to take out a policy by telephone for customers without online access. A variety of communication methods are available for renewals, including online, email, post, and telephone.
The partnership with Uinsure also ensures that any new business or renewal quote will automatically offer the customer the lowest price based on Uinsure’s panel of underwriters, with the cheapest price meaning less need to shop around, saving them money and time.
Graeme Sands, head of personal banking at Virgin Money, said: “Virgin Money’s innovative home insurance product offers a market-leading quote journey in as little as 30 seconds, competitive pricing through a panel of insurers, automatic re-broking at renewal, and a transparent fee structure with no hidden fees. In collaboration with Uinsure, who will administer our home insurance product, we provide customers with simplicity, quality, and transparency.”
Martin Schulthiess, Uinsure group managing director, said: “Our technology is built solely around the user – meaning customers can enjoy an insurance journey that’s free of the complexities they might previously have struggled with.
“The Virgin brand is one of the most recognised globally, with a long history of pushing boundaries and innovating for the benefit of its customers. That way of thinking very much mirrors our own way of working and we’re extremely excited to commence our partnership with Virgin Money.”
For more information on the new home insurance product or to get a quote, visit homeinsurance.virginmoney.com