New Bamboo and enhanced knotweed products
CLSQ is pleased to announce the expansion of our invasive species cover with the launch of our enhanced Japanese Knotweed Policy, new Commercial Japanese Knotweed Policy and Bamboo Policies today which now offer additional cover for your clients.
These products are now available through our online PIPA ordering platform or associated partners and in some cases include an upgrade in cover at no additional cost!
The enhanced benefits of our Japanese Knotweed Policy
Upgrading the policy to include not just Japanese Knotweed, but also other variations of knotweed such as bohemian/hybrid and giant knotweed at the same price as before.
· Upgraded online acreage options - Previously our policy covered only ½ acre, but now it extends for residential properties with acreage options up to 2 acres, reducing the need for bespoke quotations.
· Higher Sum Insured (which is the maximum amount protected by the policy) options available online and cover now being available for £100,000 (previously £20,000) worth of losses in respect of knotweed claims.
· Market Value protection has been added as an optional loss to add to the policy, enabling our customers to bespoke their own quotes online:
a. 10% of the sum insured only
b. Residential properties only
· We're introducing a commercial knotweed policy on our platform, covering properties up to 1 acre with the same sum insured.
Drafts ordered prior to today will automatically be upgraded to benefit from the new policy wording which includes other variations of knotweed such as bohemian/hybrid and giant knotweed. If required, you can utilise the new options (1-3 above) when converting your draft to an order.
New Product: Bamboo Insurance
This policy protects the purchaser and/or lender for risks associated with bamboo, identified on the property after the inception date following encroachment from a neighbouring property’s bamboo plant which causes the property purchaser and/or their lender to suffer a financial loss. Including:
· Insured options: Borrower & Lender cover where a clear survey has been obtained and lender only cover where there is no survey.
· Available for both Residential and Commercial properties.
· Sum Insured options: £20k, £50k, £100k.
· Acreage options, up to 2 acres for residential and 1 acre for commercial.
· Market Value option can be added as a bespoke option.
Our PIPA Portal offers online access to policies for residential, commercial, and mixed-use properties. It provides a comprehensive audit trail and is supported by CLSQ's user-friendly approach, boasting a "world class" Net Promoter Score.
Our customer support and underwriting teams are available to provide additional information or answer any questions about our Invasive Species products.
Please get in touch on 01732 753 910 or at info@clspropertyinsight.co.uk.
