High net worth
You may or may not regard yourself as a High Net Worth Individual, or even Mid Net Worth - terms which insurers have adopted to describe a home insurance for customers where broader forms of cover are available, often at extremely competitive rates compared to standard policies.
If your home contents sum insured exceeds £100,000 or your buildings exceed £400,000 High Net Worth insurance may well be an option for you.
High Net Worth insurance represents a truly revolutionary approach to one of the most common and important policies for home owners.
Security Conditions and Warranties?
Many policies require homeowners to comply with a standard of security in the form of locks and possibly alarms, failure to do so often negating any claims. High Net Worth policies do not - or rarely - contain security warranties and thus ensure full cover.
Valuables, Fine Art, Jewellery Limits?
High Net Worth policies contain limits of typically £5,000 for any one item without the need to specify such possessions in the policy document.
Contents at More Than One Location?
Most policies restrict cover on contents to the main premises. High Net Worth policies often automatically insure your contents and possessions wherever they are kept such as in second homes, at removal firms or elsewhere.
Annual travel, motor insurance and other cover requirements?
Certain High Net Worth insurers allow the facility to include motor insurance, with cover providing many benefits at often extremely competitive premiums compared to stand-alone policies. This can include "any driver" extensions, no loss of bonus on non-fault claims even in circumstances where third parties cannot be traced and comprehensive cover when driving third party or parties vehicles (most policies restrict cover to liability risks only and in some cases do not provide any such cover for this situation).
Additionally, annual travel insurance, legal fees extensions and even aggravated burglary and kidnap and ransom extensions are available.
