September 2009 - Magnet launches new Home Insurance Policy

Magnet Insurance has launched a new home insurance policy giving generous discounts of up to 60% for no claims, up to 20% for customers who choose a higher policy excess and a further 20% discount if buildings and contents are insured on the same policy.

In addition, the policy includes free cover for up to £100 for freezer food, £250 for pedal cycles and £500 for money and credit cards, covers which are often charged as extras on other home insurance policies.

Magnet Homecover is arranged by Magnet Insurance Services Ltd and underwritten at Lloyd’s of London.

The policy is aimed at those customers who don’t claim for the occasional small loss but who buy home insurance for the financial protection it provides against the larger loss and the ‘peace of mind’ it gives.

The scheme rewards clients generously for their past claims free record and gives further discounts where the customer chooses a higher excess, which cuts out the smaller claims but equally delivers a very competitive premium

Cover can be purchased by phone or on Magnet's website with the premium paid either by credit, debit card or monthly instalments by direct debit.

December 2008 - Magnet Acquires Model Railway Scheme

Magnet Insurance Services Ltd has purchased the Model Railway Insurance business from Taylor McGill.

"It is very much business as usual for our Model Railway Insurance customers"

Magnet's managing director Tony Bound, who was previously a director of Taylor McGill, commented on the acquisition: “Whilst working at Taylor McGill, I was responsible for the Model Railway Insurance business and over the last 3 years have helped to insure most of the UK’s model railway clubs, societies, and individual enthusiasts. During this time I have acquired a good understanding of the particular insurance needs for those connected to the model railway hobby and built some strong relationships."

"Magnet Insurance will continue to provide our new customers with a personal, high quality service and I look forward to continuing our relationship. It is very much business as usual for our Model Railway customers, other than the name over the door has changed to Magnet Insurance.”

During the time that Tony has been managing the scheme, it has grown by over 100% and its policyholders now account for more than 70% of the UK market.

For new quotations for Exhibition, Club or Collector’s Insurance please visit www.modelrailwayinsurance.co.uk or tel: 01636 858249.