Towergate Insurance is part of the Ardonagh Group and has its headquarters in London.
Towergate Insurance was launched in 1997 by Peter Cullum, CBE, and he was the company’s Executive Chairman until 2015. David Ross became the Chief Executive Officer (CEO) of Towergate in November 2015 and was appointed CEO of the parent company - Ardonagh Group - in June 2017.
Since the company’s formation, Towergate have acquired over 300 specialist insurance companies, with some of these firms having roots going back over 100 years. Unusually, perhaps, for today’s insurance intermediaries, Towergate maintains an especially wide number of 100 offices around the UK and employs more than 4,000 staff.
Towergate also offer more than 200 specialist & general insurance products. These are mainly targeted towards niche areas of the market, offering the kind of non-standard cover that may otherwise be difficult to find.
Through its Towergate Underwriting division, the company offers a range of underwriting solutions for insurance brokers, including e-traded products – once again with the aim of finding for brokers’ clients those non-standard niche insurance products which it might otherwise be difficult to arrange directly with insurers.
In many respects, landlord insurance might be regarded as a non-standard form of cover.
Although standard home insurance – for conventionally occupied homes by owner occupiers – is clearly very widespread, the particular concerns of those who have bought residential property to let are not adequately covered by this type of home insurance. Indeed, if the home is going to be let, standard home insurance is unlikely to be suitable and claims under such policies may be rejected.
There are specific risks likely to worry landlords. Whilst these include the long list of perils that might damage or lead to the complete loss of the let building and its contents, the landlord also has a concern to maintain the smooth running of the buy to let business, maintaining rental income, seeking compensation for any loss or search and defending against potentially crippling public liability or employer’s liability claims.
Towergate landlord insurance
For landlords’ peace of mind, Towergate offers:
- all risks cover for the let property;
- cover for non-standard construction, including listed buildings and those with thatched roofs;
- insurance for any type of property – houses, flats, bedsits and so on – let to any kind of tenant (whether employed, students or benefits claimants, for example);
- cover whilst the property is temporarily unoccupied;
- property owner’s liability cover;
- legal expenses cover (with the option of including rent guarantee insurance); and
- emergency home assistance – to help prevent a minor fault turning into a full-blown emergency.
It is evident, therefore, that Towergate offers insurance likely to meet the majority of landlords’ concerns about protecting their let property. As at August 2019, Towergate stopped arranging UK property insurance where the owner is not living (or resident) in the UK - for example, if they are living or working overseas.