Tackling commercial underinsurance
We’re making changes to our commercial offering, so just like Suzanna, your clients can have a comprehensive policy which takes care of business and provides the level of cover they expect. We want our SME customers to be confident that should the worst happen they have the right level of cover in place to continue trading.
In order to do this we’ve introduced the following enhancements to our Pub, Restaurant & Hotel product:
- We’ve combined the sums insured for stock, contents and tenants improvements to create one overall property sum insured, so in the event of a theft from Suzanna’s hotel, if the items they lose costs more than her contents sum insured, we will pay up to the overall sum insured for that claim.
- We’ve also increased the overall property sum insured by 20%, with a minimum of £25,000, so if refurbishment of the ballroom following a flood costs more than her tenant's improvements sum insured, Suzanna can claim for more without any hassle or worry.
- We’ve removed average from the policy, therefore even if the flood claims costs are higher than she insured for, we will still pay up to the overall sum insured, and we won’t make any reduction for underinsurance.
- We’ve increased business interruption to 36 months, giving Suzanna more time and money to help get the hotel back up and running and start welcoming guests again, following the flood.
- We’ve increased public and products liability cover to £5m, so even if there was a food poisoning outbreak following an event at the hotel, she can be reassured a sufficient level of cover is in place.
On top of this, we’ve made some key enhancements to Fast Trade, making it even easier to trade with us online. We’ve taken on board your feedback and introduced a new homepage highlighting your upcoming prospects and renewals and making it easier to search for clients and to navigate the site.
To check out these new improvements or to get a quote, simply log-in to Fast Trade via the Aviva Broker website. For further information on our enhanced SME Commercial offering contact your Aviva sales manager.
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