Paymentshield enhances GI offering

Paymentshield has increased the maximum cover limit on its buildings insurance to £1,000,000, increased its maximum no claims discount to nine years, and extended its new build quote validity period to 120 days.

New clients remortgaging their property will also receive three months free home insurance.

Eligibility questions will now be asked at the start of the quotation process and standard accidental damage cover now includes protection for computer, gaming and audio visual installations.

Amanda Fox, Proposition & Insurer Relations Director at Paymentshield, said: “We’ve made some significant as well as more subtle changes, all of which we believe will enhance our offering and, most importantly, benefit advisers and their clients. One of the biggest changes is the increased cover limits on our buildings insurance, which now stands at £500,000 with our standard cover and £1,000,000 on our Home Insurance Plus option.

“Simplification has also been an important part of Paymentshield’s product development process which means we’ve made the limits around single articles under our contents insurance much clearer, so there’s a better understanding of when there’s a need to specify and when there’s not. This makes things much easier for the adviser, making it more likely that the customer and their most valuable items are properly protected.  

“2016 has been a year of significant change for Paymentshield, and these latest improvements to our products reflect our vision and commitment to listen to and build better relationships with advisers, and create market-leading products that are built around the needs of their clients.”