New Insurance Option Now Available For People Who Love Their Beach Huts

Online, September 5, 2013 (Newswire.com) - LEEDS - Love Your Hut (www.loveyourhut.com), a new specialist insurance provider, launches today and will offer insurance designed especially for owners of beach huts across the UK.

The company will offer beach hut owners comprehensive insurance policies that cover all risks, including storms, vandalism, fire, flood, subsidence and other issues. It will also cover any liability for hut owners, loss of rent or licence fee, liability for some watercraft, temporary liability for art or clerical-related business use, and for emergency travel due to a large loss.

In addition, Love Your Hut offers the UK's first and only online 'quote and buy' facility for beach hut insurance in order to make the process of securing cover quicker and easier than ever before.

The new offering has been developed with Arch Insurance Company (Europe) Limited, which is rated as A+ by A.M. Best and by Standard & Poor's. The product offers market-leading terms and competitive premiums for buyers with no additional fees and in most cases zero excess in the event of a claim.

British seaside resorts feature around 20,000 beach huts across the country. Many huts have been in the family for generations and combine sentimental value with an investment opportunity in popular locations. However, the market faces severe challenges in the wake of the financial crisis. Prices have plateaued but running costs can be high due to ground rent increases imposed by struggling local councils. Against this backdrop, insurance costs are a particular concern as the potential for storm damage and vandalism make beach huts a potentially fragile asset.

Love Your Hut is led by Managing Director Jonathan Kitchen and specialist underwriter Matthew Briggs who have over 15 years' collective experience serving the unique needs of the seaside community.
Love Your Hut will be working closely with beach hut associations to provide customised packages and support for associations and their members, and the team will shortly be launching additional insurance products to cover chalets, shepherd's huts and shed workers.

Commenting on the launch, Jonathan Kitchen said:

"Britain loves its beach huts. They are an integral part of our seaside landscape and much loved by generations. Yet, we only need to look at the fate of Tracey Emin's famous Whitstable hut, a unique artwork destroyed in a fire, to see some of the dangers involved. Often, owners do not fully understand the risks facing their huts. Time and time again, we see people either over-insured and paying over the odds every year because they continue with a boom-time valuation of the hut as the basis for their insurance policy or under-insured, for instance, where they have not factored in the cost of capital improvements.

"We aim to help hut owners manage their insurance needs quickly, efficiently and for a reasonable price so they are free to build vibrant local seaside communities without worrying about cost and risk."

ENDS

Notes to Editors
Love Your Hut (www.loveyourhut.com) is a leading provider of specialist insurance specifically designed for owners of beach huts in the UK.
Arch Insurance Company (Europe) Limited is authorised by the Prudential Regulation Authority and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority.