If You've Got It, Spend It...A Covid Moto?

It is a bank holiday Monday and time for me to get pen to paper again, I don’t feel I write enough and I also don’t feel like I am experienced author however for articles and web updates I enjoy it. I also like being able to give you an insight in to what goes on here at Saxon Insurance Brokers, even on bank holidays.

We are slap bang in the middle of a global pandemic and although we are back in the office and business is as normal for the Saxon team there is a weird eery feel in the air, the market and with our customers in particular new ones.

Just so you know, we arrange and manage insurance for High Net Worth clients who own high value assets. You are probably thinking this time has hit them hard, perhaps their stock portfolio has halved in value? Or the property they own is now plummeting in value as the UK hit a recession but somehow we are seeing the opposite affect, and I can tell you the reason why so you don’t have to guess. Boredom.  

Hey? Boredom. What? Yeah, oh yeah…. people are bored stiff and need something to do! Let’s face it, the majority of the world went in to lockdown at some point and whoever you are you still had the internet. Social Media, web traffic, sales (for some) rocketed. In particular the art market went bonkers, some galleries we work with are telling us they have had record quarters driven by online sales, and online auctions giving the wealthy something to do while stuck at home!

Thats why we’ve also seen record web traffic, enquiries for us rocket over the weekends (luckily we are online 24/7), people are in need of our help. High value art collections being bought, people buying more jewellery pieces than I have ever seen. Jewellers and art dealers unable to get their hands on quality stock to sell to these investors. We don’t get involved in trading art or jewellery but we certainly have the buyers spending their hard earned money on items running in to the millions each time.

So to summarise this short article on client boredom I would give it a title ‘If you’ve got it, spend it’. Have people taken this time to step back and review how they live? What they enjoy spending money on? Has the realisation kicked in that a pandemic can affect us all and life is simply too short to not do what makes you feel happy. I’d say the answer is yes to all these questions but remember assets don’t make you happy but perhaps the process does….

A big warm welcome to our new clients who join us as an important Saxon client and of course a existing clients for their loyalty, these are the ones that know first hand what it feels like to have an insurance broker as one of their black book of contacts ready at the drop of the hat to insure that new prized possession.

New to Saxon? Contact us anytime to discuss how we can help you.