We are proud to be sponsors of the forthcoming Special Olympics. We are equally proud of the insurance solutions we have developed for those who in many respects are excluded from protection due to physical or mental capacity.
It is an unfortunate fact of life that some will either temporarily or permanently lose the capacity to make decision for themselves. In these situations unless a valid lasting power of attorney or enduring power of attorney has been made , it may be necessary for the Court of Protection to become involved and appoint a “deputy” to make decision on your behalf. This may include decision relating to health care, property and personal finances.
Whilst personal line insurers do not discriminate, their rating models and algorithms sometimes struggle when a person losses the capacity to make decision for themselves. Many deputies have encountered problems when trying to insure a property in their custody and sometimes turn to their Local Authority for assistance.
Recognising the problems some deputies were having Gallagher has developed a Household Buildings and contents insurance solution for the benefit of those who may otherwise be unable to find competitive insurance protection. The solution has been designed by working closely with various supported living organisations within in public sector and is already being used by a number of Local Authorities to provide that protection not freely available in the personal lines insurance market.
The solution is aimed at:
- Residents of council properties
- Individuals in shared accommodation
- Home Owners
- Individuals who have carers visiting the property
Key benefits include:
- Cover for individuals/families with carers visiting the property
- Theft, a lot of insurers exclude this when carers visit the individual/family
- Cover for the carers personal property, up to 5k
- Cover for long term unoccupied properties, a lot of insurers will only provide cover for 60 days
If you would like to find out more about this simple to access and valuable solution please contact your Gallagher Client Director.