High Net Worth Home Insurance: Policies for Higher Sums Insured

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

ü      Wider Cover

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ü      Higher inner limits

ü      Worldwide cover on all your Contents

ü      Physical loss or damage on your Buildings

ü      You have 60 days to declare new possessions

ü      Acquired disability cover

ü      Hole in 1 cover

ü      Marquee cover

ü      Possessions of relatives in care

ü      Possessions of domestic staff and visitors

ü      Family Legal Protection

ü      Legal Expenses cover

ü      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.