For many Canadians, summer leisure activities such as boating, RVing, and weekends at the cottage are an important part of their summer traditions, lifestyle, and wellbeing. But clients who view leisure as a part of their lifestyle are at a higher risk of personal injury and damages to their property at this time of year.
South Western Insurance Group Limited’s Elite Book has everything they need. And while the insurance policies involved may be relatively standard, they provide a range a of options that makes the Elite collection of coverages anything but average.
Expertise in leisure & lifestyle means more options for clients
South Western has become an expert in leisure and lifestyle through their unique approach to underwriting this market. As Junior Underwriter Sunyna Dwivedi explains:
“I deal in both commercial and personal insurance, but the personal coverages offered by our Elite Book product are, in some ways, treated like a separate and very special division of SWG. What we are really doing is supporting leisure as a lifestyle – one that revolves around boats and cottages, motorhomes and trailers.”
Elite Book caters to a wide range of clients. Following are the four personal lines products that will be highlighted in this article:
- Cottage insurance
- Mobile homes
- Cottage insurance
South Western insurance for cottages offers Cottages, Secondary, and Seasonal packages. What makes it so unique is its increased rental time. Junior Underwriter Sunyna Dwivedi explains:
“In our cottage program, the rental time allotted for insurance coverage increased dramatically less than a year ago. The market is now willing to write up to 180 days – which is pretty much half of the year – whereas before, the policy standard was four weeks, with an option to extend to a maximum of eight weeks. So that has become a pretty big selling factor for our brokers.”
- Campers/RVs/vacation trailers
Insurance for holiday trailers includes such units as:
- Toy haulers
- And more
South Western offers three packages: Guaranteed Replacement Cost for trailers less than five years old; Replacement Cost for trailers five years old and older; and Standard for trailers (and golf carts) 15 years old and older.
- Mobile homes
Mobile homes insurance provides you and your client with a superior product at competitive rates and commission.
Homeowners Form includes features such as:
- Plain language wording
- Replacement cost coverage available for mobile homes built in 1990 or newer (consideration given to units “fully” updated since 1990)
- Replacement cost coverage available on contents
- Deductible options
- $1 million with increase to $2 million available
This program also allows the placement of:
- Renter’s package for tenants occupying a mobile home
- Mobile homes rented out to others
- Summer or seasonal mobile homes
SWG covers an extensive number of watercrafts including, but not limited to:
- Cruisers/cuddy boats/houseboats
- Sail boats
- Pontoon boats
- Ski boats
South Western’s extent of coverage gives brokers an edge in watercraft, as Dwivedi explains. “The market for watercraft products expanded the types of boats they are willing to write just a couple of months ago. Anything from Sea-Doos to fishing boats to cruisers are eligible for coverage. And that is a pretty big deal, because not everyone will take on a Sea-Doo.
South Western’s personal lines allows brokers to offer more extensive coverage for their leisure & lifestyle clients, making them a one-stop shop for this growing market.
“There is usually quite a bit to play with,” says Dwivedi, “because in most cases, there is a broad scope of options to choose from. In fact, I would say that it is the extensive selection of coverages and products available that makes our Elite Book so appealing to brokers.”