SunLife has developed what it calls a “straightfordable” home insurance offering which allows customers to choose the product to meet their individual needs and budget.
The insurer’s debut home insurance product allows policyholders to only pay for what they need, which SunLife says will make cover more affordable.
Simon Stanney, the director at SunLife’s general insurance distribution business, said that the product was “straightfordable” because of its flexibility and transparency.
“Whether that’s a customer who knows they need £23,250 to cover his household contents, or someone who is unsure of their rebuilding cost and can rest assured that £1 million buildings cover will meet their needs, we’re making it straightforward and affordable,” explained Stanney.
“For instance, how often have you begun a buildings insurance application only to be asked how much the rebuild cost of your home is?”
“It’s not something most people know or can easily find out – and an example of how some insurers are not thinking enough about their customers. We’re doing things differently by cutting out questions like that, and making it easier for customers to get the cover they want, without paying for features they don’t need,” added Stanney.
“We want to make it as easy as possible for people to get the cover they want, whatever the product, with a ‘retail-like’ experience that means they can feel good about their financial future.”
The products cover major perils for both the home and its contents, while the full accidental proposition offers a higher and broader level of buildings and contents cover, giving customers even more protection.