Ceta has added a standard household notional home insurance product to its general insurance panel as it looks to help brokers address persistent underinsurance in the UK market.
The digital personal lines broker said the new ClearSure product provides buildings cover up to £1 million and contents cover up to £100,000.
The launch broadens Ceta’s notional offering, which already includes its non-standard household product, Adept, and gives brokers access to options for both standard and non-standard residential risks.
Notional products are designed to help tackle underinsurance, where a property is insured for less than its full rebuild cost. Ceta said this remains a widespread issue, with industry data indicating that around 70% of UK residential properties are underinsured and that average cover stands at about two-thirds of rebuild value.
James O’Hara, commercial director at Ceta, said: “The household insurance market is still experiencing soft conditions, resulting in tighter margins for insurers as premiums become more competitive.
“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 household on a notional basis. It strengthens advisers’ ability to deliver robust solutions across the full spectrum of residential risks.”
Ceta said the addition of ClearSure is intended to complement its existing panel and support advisers placing household business where concerns over rebuild values and policy adequacy remain in focus.
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.”
