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High Net Worth Property Insurance

High Net Worth Property Insurance – Why specialist cover makes sense

Vintage watches are a hot investment right now, with the rarest worth more than the Ferraris their owners are driving. And art prices are looking increasingly buoyant too: last month, Sotheby’s took a record-breaking £195million at its Impressionist, Modernist and Surrealist sale.

That’s great news if you’re a collector or you find a long-lost work or timepiece stashed up in the attic. But as values rise, so will your insurance needs. Even if you don’t have a Chagall on the wall or a limited edition Rolex Cosmograph Daytona on your wrist if you leave your home and its contents underinsured, you could be in for a major headache. That’s why specialist high net worth property insurance, designed to safeguard your most cherished and valuable items, makes sense.

What is High Net Worth Property Insurance?

High Net Worth Property insurance is a dedicated insurance aimed at anyone who has a home that would cost more than £1million to rebuild or who owns high-value contents. Homes that can cost more to rebuild can include listed buildings or unique homes with a non-standard build. High-value contents could include works of art, antiques, wine and jewellery.

Do I need specialist property cover?

Remember that your buildings insurance needs to cover the cost to rebuild your property – not its market value. Don’t forget to consider the cost to rebuild outbuildings, swimming pools or tennis courts if you have those. And think about rare materials in your home – if you have a marble floor, just think how much that could cost to reinstate? If your property would cost more than £1million to rebuild, is listed or has more than six bedrooms, you will probably need specialist property insurance.

Most standard home insurance policies will cover up to £100,000 to £200,000 worth of contents. If your combined contents are worth more than this, look for specialist cover. Also be aware that many standard policies set a relatively low limit on claims for individual items. If you currently have standard property and contents insurance, it’s worth speaking to your broker for clarification if you have any items worth more than £5,000 or you may be in for a shock if you do need to make a claim.

Unlimited cover

Choose from different high net worth policies for different levels of cover, or for the ultimate in peace of mind opt for a policy with unlimited cover. Unlimited means there is no maximum value for individual items, total contents or rebuild costs, giving you total protection if the worst does happen.

Insurance to suit your lifestyle

If you spend time between properties around the world look for a policy that covers your belongings overseas as well as in the UK. Most high net worth insurance policies cover your belongings around the world as standard.

Best value prices with no surprises in the small print

We all like to get a good value deal on our insurance, but when it comes to high net worth insurance you can’t just turn to a comparison website. That’s because these websites only compare standard policies. Instead, you’ll need to ring around several insurers to be sure you are getting a good value deal, or you could use an experienced, independent broker like Easy2insure to do the legwork for you.

Bespoke insurance you can count on

Part of the respected Park Insurance Group, Easy2insure combines expert knowledge of the insurance industry with a friendly approach to customer service. We have preferred broker status with some of the UK’s biggest insurance companies, which enables us to negotiate a better deal, tailored to your specific needs, on your behalf.

You can be sure that you are getting the right insurance for you at the best price. And if the worst does happen, and you need to make a claim, you can be reassured that our dedicated team will help you to quickly and easily get things sorted.

Call us now on 0800 917 9522 or get in touch for a free quote for your high net worth insurance or to find out more.

Top tips for hassle-free claims for valuable items:

  • Take photos of your valuable. This will help you to prove their condition if you do need to make a claim
  • Keep receipts or certificates for items
  • Get items worth more than £10,000 valued regularly
  • Take copies of receipts or certificates and store these separate from the items