Policy Powerhouse has launched a new holiday let insurance offering that allows business owners to quickly obtain quotes and buy buildings and contents insurance for single or multiple properties online.
According to the digital broker, there are close to 200,000 properties in the UK holiday rental market. However, with relatively few insurers offering this type of cover, it is a market that has long been poorly served, making it hard to shop around for competitive quotes.
The new Policy Powerhouse platform will ask the owner a handful of questions, with all necessary property attributes and risk data delivered by property data specialists WhenFresh, based simply on the address. The platform also allows owners to insure one or more properties on a single policy, with a single policy fee and discounts for multiple property cover.
“We’re really excited to launch what we consider to be the most intuitive insurance platform on the market, which will transform the, frankly, rather tedious holiday let insurance buying process, making it much faster and easier to obtain competitive pricing and a choice of coverage level to suit holiday let owners,” said Policy Powerhouse CEO John Bibby.
Policy Powerhouse is a UK-based digital broker founded in 2021, which seeks to bring non-standard and cost-effective insurance products to buyers by simplifying the insurance-buying process and delivering straightforward claims processes using enhanced underwriting data.
“Having been in the insurance market for most of our lives, we saw a gap in four critical areas of insurance: cost, speed of purchase, the ability to insure multiple properties on a single policy and range of products, particularly where requirements don’t quite fit the typical mould,” Bibby said. “This is where Policy Powerhouse comes in.”
