"We’re delighted we can now cover both standard and non-standard households on a notional basis. It strengthens advisers’ ability to deliver robust solutions across the full spectrum of residential risks"
- James O’Hara - Ceta
Digital niche personal lines broker, Ceta, has added a new notional standard home insurance product to its general insurance panel.
The ClearSure standard household notional product provides:
- Buildings: up to £1,000,000
- Contents: up to £100,000
Notional products aim to address underinsurance, a widespread issue where homes are covered for far less than their true rebuild cost. ClearSure complements Ceta’s existing non-standard household notional product, Adept, offering brokers a broader range of options.
“The household insurance market is still experiencing soft conditions, resulting in tighter margins for insurers as premiums become more competitive," explained James O’Hara, commercial director at Ceta (pictured).
"This leads to restrictions on the breadth and depth of some cover, and notional products have become less available to brokers as a result, and tighter in their terms. Whilst this is a symptom of the cyclical nature of the insurance market, it’s not good for brokers or clients; notional products give brokers the flexibility to place cases confidently, helping protect clients from underinsurance that can be financially devastating at the point of claim."
"We’re delighted we can now cover both standard and non-standard households on a notional basis. It strengthens advisers’ ability to deliver robust solutions across the full spectrum of residential risks.”
Industry data indicates that around 70% of UK residential properties remain underinsured, with average cover at just two-thirds of the rebuild value. This gap exposes both clients and brokers to financial and regulatory risks.
O’Hara added, “With underinsurance still pervasive in the UK market, brokers need products that go beyond tick-box sales and genuinely protect clients. Our comprehensive range of notional products gives brokers the flexibility to place all household cases confidently.”
