Why choose a High Net Worth insurance policy? There are countless providers of insurance, either through online facilities or via call centres, which will claim to provide comprehensive cover at the cheapest possible price for your most valuable assets – your home, contents and valuables. However, many of these products contain limiting restrictions and it is not until the unfortunate time comes when a person has suffered a loss and needs to make a claim that they discover they are not as protected as they thought, sometimes with devastating consequences.
A high net worth insurance policy is typically “warranty free” which means it will not contain many of the limits or restrictions that are found in an off-the-shelf insurance policy, such as an onerous alarm requirement, for example. Equally, the levels of protection offered by a high net worth insurance policy are far greater than those of a standard policy. For example:
Free appraisal service
According to the Association of British Insurers (ABI) it is estimated that 20% of UK properties are underinsured. Many direct, standard policies will apply a clause that in the event of a claim, if a home is found to be underinsured, it will only pay a percentage of the claim settlement, dependent on the level of insurance. Many of the high net worth insurers on our panel offer a free appraisal service to ensure adequacy of sums insured providing peace of mind that in the event of a claim, there can be no disputes regarding adequacy of cover.
Generous alternative accommodation
In the devastating scenario that your home cannot be lived in following damage, many insurers on our panel provide up to 5 years alternative comparable accommodation cover for you and your family to live in whilst your home is restored to its original position before the damage occurred.
Cover for all your contents and belongings on a worldwide basis as standard, providing “All Risks” cover (which includes accidental loss and damage) so you do not need to worry about not being covered for items out of your home or whilst abroad. This same level of cover also applies to any collections, jewellery and watches.