Prestige Underwriting Expands Landlord Distribution Through Source Insurance Partnership

Prestige Underwriting has expanded its property insurance distribution after joining the Source Insurance Landlord panel.

Prestige Underwriting is the first underwriter of Source’s new 5-Star Defaqto rated Residential Landlord Insurance product, which becomes the first common-worded product available through the Source Landlord panel.

The launch extends an existing relationship between the two businesses, with Prestige having underwritten business through the Source Household Insurance panel since November 2023.

The Residential Landlord Insurance product provides Legal Expenses cover as standard, with Rent Guarantee available as an optional extension. It has been designed to combine comprehensive core protection with the flexibility to meet the differing requirements of residential landlords.

The partnership comes as landlords adapt to significant changes in the private rented sector under the Renters’ Rights Act. The reforms have increased the importance of landlords understanding their responsibilities and ensuring they have appropriate protection against legal disputes, rent arrears and other property-related risks.

Prestige will bring its specialist property underwriting capability and experience of both standard and non-standard home insurance to the Landlord panel. The new relationship will give advisers using Source access to Prestige’s underwriting expertise through an established and straightforward distribution platform.

Tim Baxter, Business Development and Relationship Director at Prestige Underwriting, said:

“Source has built strong relationships with advisers and understands what they need from an insurance provider. Not least, quality products, straightforward access and confidence that the insurer behind the policy has the expertise to respond when circumstances become more complex. 

“We have developed a successful relationship through the Source Household Insurance panel and extending that partnership into landlord insurance is a natural next step. It strengthens our distribution in an important part of the property market while helping more advisers access flexible and comprehensive protection for their landlord customers.

“Partnership is the best policy at Prestige. That means investing in relationships that combine complementary expertise and deliver meaningful value for brokers, advisers and their customers. Source brings an established adviser network and a strong understanding of the landlord market, while we contribute specialist underwriting knowledge and a flexible approach to property risk.” 

Jonathan Pinkerton, Insurer Relationship and Finance Director at Source Insurance, said:

“This marks a further strengthening of our ongoing relationship with Prestige Underwriting, which has been a valued partner on our Household Insurance panel since November 2023.

“We are delighted to expand that partnership into the landlord sector. Prestige brings considerable property underwriting experience to the panel at a time when landlords and their advisers need access to high-quality, flexible insurance solutions."