The mortgage adviser community could make some headway in reaching out to the households that are underinsured or have an unsuitable policy.

A client is already in an adviser’s grasp when they are sitting in front of them to discuss a mortgage and getting a home is just one part of the goal – an adviser should go further and help them to protect their new asset.

Many consumers are happy to shop around for a policy themselves and feel there is no disadvantage to doing this unadvised.

They may also believe that a mortgage adviser has access to a limited range of deals and for a different, often higher, price.

However, any adviser will know that cheaper does not always mean better and consumers may find a better-suited policy if they get advice.

Unlike a comparison website, an adviser will consider a consumer’s current and future circumstances and assess this every time their policy is reviewed.

This means a policy that may have been suitable at one time can be re-brokered if it no longer meets a client’s needs.

For example, the cover a single homeowner has may not be sufficient once they are married, with a family and have lived in their home for some time. The ability to adjust cover with LV=’s flexible home insurance can adapt to changing circumstances.

Policyholders have the option of adding cover for events such as emergency repairs or enhanced accidental damage cover.

This insight into a client’s life can also strengthen the advice relationship, as it will take it beyond a transactional one and could result in better retention.

As any adviser will know, this falls under their responsibility to avoid foreseeable harm in compliance with Consumer Duty.

It coincides with the whole ethos of being insured, and according to advisers, Consumer Duty rules are encouraging more of these conversations.

This is a sign that consumers are open to hearing about insurance, particularly when it is framed around their best interests, so it is up to an adviser to broach the subject properly and demonstrate the value of cover. It can be as simple as informing a client that their policy will pay when it matters most, backed by a record £585m paid out to property insurance policyholders in 2024.

Many of these claims were the result of adverse weather in the UK, giving a real life picture of how a good insurance policy can shield against unfortunate and unexpected events.

Naturally, broking insurance policies will supplement any mortgage adviser’s bottom line, but it can be difficult to visualise the value of this extra work in cash terms, especially when professionals are already so time pressured.

LV= has developed two commission calculators to help advisers get a sense of how much they can earn simply by doing what is best for their client.

One predicts the commission an adviser can earn over five years based on the mortgage to general insurance conversion rate, while the other calculates the commission per home insurance sale, after the Insurance Premium Tax has been removed from the total cost.

Not only does this provide an incentive for advisers to continue financially protecting their clients, it is also a reminder to ensure they do not cancel their cover later.

This can be tempting to some consumers, particularly when finances are squeezed, but if advised properly, clients will know that their policy can do more to safeguard them.

On a positive note, it has been predicted that the busier housing market will lead to more people taking out general insurance – an opportunity advisers can capitalise on.

In protecting clients, advisers are also protecting their business by ensuring they maximise their earnings so they can continue to operate, invest in and expand their firm, while being there for consumers.

Insurance has a financial benefit to both advisers and clients, so it is in everyone’s interest to be active and sufficiently protect the UK’s population.