Cornish Mutual Assurance Co Ltd
This is a company that takes particular pride in its mutual status. Where many former mutual societies may have renounced their mutual status, Cornish Mutual holds to the principal of ownership by its members and policy holders, for the benefit of its members.
Without having to look to the interests of any shareholders, says the company, it is able to concentrate solely on providing an excellent service. The company is a member of the Association of Financial Mutuals (AFM). Its headquarters are in Truro in Cornwall and it is authorised and regulated by the Prudential Regulation Authority and by the Financial Conduct Authority.
Cornish Mutual was founded in 1903 by a group of farmers in the southwest of England. Business grew throughout the rural communities of Cornwall, Devon, Somerset and Dorset and, by 1999, opportunities developed for expanding the business into those communities not immediately connected to farming.
Despite this diversification into the wider community and the broader client base, however, Cornish Mutual strives to maintain a local outlook and retain the values that have been at the heart of its mutual tradition.
Not only does the company maintain a local outlook, it puts this into practice by retaining a network of 21 locally-based "insurance inspectors", with the principal aim of offering a personal, face to face relationship with customers. These inspectors are able to visit clients, give help and advice on managing risks, supporting claims applications or providing insurance quotes.
According to a customer survey conducted in 2012, 90% of Cornish Mutual members indicated their satisfaction with respect to the manner, attitude, and understanding of key insurance queries when arranging or renewing their policies.
Whether you live in a rural community or otherwise, if you own residential or commercial property which you let to tenants, you are likely to be more than a little interested in landlord insurance.
Typically, this is designed to protect your financial investment in the structure and fabric of the property, any contents you may own, and also cover a number of business risks involved in letting property - risks such as a loss of rental income or your liabilities as the property owner or as an employer.
Cornish Mutual landlord insurance
For a small, locally oriented insurance company, Cornish Mutual appears to offer a surprisingly comprehensive package when it comes to landlord insurance.
Standard headings of cover, for instance, includes:
- building and contents cover which includes accidental damage and the protection of contents against the risk of fire, theft or malicious damage;
- let property insurance providing public liability cover for up to a maximum of £2 million;
- employer's liability cover of up to a maximum of £10 million;
- compensation for loss of rental income following an insured event; and
- tax and legal advice services via a 24-hour helpline.
Landlord insurance from Cornish Mutual is offered on a "modular" basis, allowing customers to choose precisely what elements of cover they require.