This type of policy is a great way to insure your home if
you think the limits in a standard policy are not enough and you require higher
sums insured. This could be because you are a collector and want to insure your
valuable collection, or you might work from home and want to cover your office
equipment, or you might simply be a wealthier individual for whom a standard
policy does not provide adequate protection.
This policy is designed around you and your lifestyle and
can be tailored to cover your specific needs. The policy wording is very
different from a standard policy which insures against specific perils like the
ones listed in my HOME INSURANCE blog. This type of cover generally lists
exclusions and gives wider terms making it very easy to understand. Usually, if
it is not mentioned in your exclusions then you should be covered – although I
recommend you do check with your broker if you are in any doubt
Benefits of this cover
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Wider Cover
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Higher inner limits
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Worldwide cover on all
your Contents
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Physical loss or damage
on your Buildings
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You have 60 days to
declare new possessions
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Acquired disability
cover
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Hole in 1 cover
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Marquee cover
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Possessions of
relatives in care
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Possessions of domestic
staff and visitors
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Family Legal Protection
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Legal Expenses cover
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Possessions of students away from home
As well as having the option to cover your buildings and
contents and valuables, you can also insure more specifically for antiques and
fine arts which in most cases will also help reduce the overall premium.
You could have a painting worth several thousand pounds but
the artist dies resulting in an increase in value. All of a sudden the painting
is stolen. The value of the painting might triple during the period. You
needn’t worry as the death of artist cover will help with funds to cover your
loss.
Kidnap and ransom cover will provide funds towards meeting a
ransom and will appoint crisis management consultants to advise upon and help
negotiate towards a safe release.
If you are a regular traveller why not include an Annual
Travel extension as an optional extra? Again this provides much wider cover
than standard travel policies giving much higher limits of cover for cancellation,
medical emergencies, repatriation expenses, emergency travel and much more.
Personal security risks like identity fraud, road rage, and
even the threat of stalking, can often be accommodated under a special Family Security
extension. But I would advise you to discuss this more thoroughly with a
specialised broker like us (TL Dallas and Co) to obtain the best advice and
most appropriate solution for your needs.
These are just some of the advantages available with High
Net Worth insurance and as you can see, positions this type of policy above
Standard Home contracts typical of those offered by direct writers or
comparison websites.
So what are you waiting for pick up that phone and give me a
call on 01274 465 523 – I will be happy to see how I can help you.
