High Net Worth Insurance - what's it all about?

High Net Worth insurance refers to specialist products that offer broad and extensive levels of cover; this often includes high single article limits and unique cover for luxury items. We frequently find that clients are unsure whether this is really necessary or shy away from the term, believing that this cover is perhaps too excessive for their requirements. This is often not the case, given the low limits for valuables and personal belongings on standard household policies.

We understand the challenges of protecting wealthier clients with exceptional households or possessions – and we can tell you that choosing specialist insurance makes sense.?

The support offered by a tailored product ensures you’re fully covered, especially when you throw significant assets and complex lifestyles into the mix. Although better, broader coverage is important - you need flexible solutions with a higher level of service, to allow for prolific risks that are peculiar to your situation.?

You might need cover that’s adapted for living in and maintaining multiple homes, or that you have household staff that need to be considered. Furthermore, the fabric of your building is likely to be more expensive than average when it comes to repairs or replacement – especially if you live in a listed property or one with bespoke architecture.??

Valuable collections of jewellery, classic cars, fine art, or even wine can be included in such products with both 'specified' cover for those significant pieces, and blanket 'unspecified' cover for numerous items which add up to a significant amount 'en-masse'.

Collections cover can also be adapted to cover the specific risks involved for a particular type of collection – and you won’t be stuck with standard limitations that might leave you underinsured, either. We?can help you manage the various risks to minimise risk of loss of your precious belongings and ensure you have customised polices in case it does.?

If you feel that High Net Worth insurance may be worthwhile to protect your household, make sure you’re asking the right questions of your broker to ensure you’re provided with qualified advice for your situation.?

For a conversation around your individual needs, don’t hesitate to get in touch with me at: [email protected].?