Protecting your assets is crucial, especially when the value of your property and possessions surpasses standard insurance limits. High net worth insurance is designed for individuals who have substantial assets that require more comprehensive coverage.
But how do you know if you need this specialised insurance?
If any of the following apply to you, it may be time to consider obtaining an instant online quote from our specialist team.
1. The Value of the Contents in Your Home Exceeds £250,000
If your home is filled with valuable possessions, such as high-end electronics, designer furniture, or rare collections, and the combined value of these items surpasses £250,000, standard home insurance may not provide adequate coverage.
High net worth insurance offers broader protection, ensuring that your valuable items are properly insured.
2. You Require Buildings Cover of More Than £1 Million
For homeowners with properties valued at over £1 million, whether it’s due to location, size, or unique architectural features, high net worth insurance can provide the necessary level of buildings cover.
This is particularly important for luxury homes, large estates, or properties with bespoke construction that would be costly to repair or rebuild.
3. Your Home is a Listed Building
Owning a listed building comes with additional responsibilities and higher maintenance costs due to the need for specialist materials and restoration methods.
High net worth insurance policies often cater to these requirements, providing cover that accounts for the complexities of owning a historic property.
4. You Own Valuable Assets Worth More Than £40,000
If you own watches, fine art, jewellery, or other collectibles that together have a combined value exceeding £40,000, a high net worth policy can ensure they are properly insured.
Standard insurance often limits the payout on individual items, but high net worth insurance offers tailored solutions to protect your most prized possessions.
5. Your Minimum Annual Premium is £2,500
If you find that the value of your assets and the level of coverage you need require a premium of at least £2,500 per year, high net worth insurance is likely the best option for you.
This type of insurance is designed for individuals with significant wealth and higher insurance needs, ensuring comprehensive protection for your property and belongings.
6. You Have a Single Item Worth More Than £20,000
Whether it’s a luxury watch, a piece of fine art, or a rare collectible, if you have a single item in your home worth more than £20,000, standard insurance may fall short.
High net worth insurance provides the peace of mind that comes with knowing your high-value items are covered for their full worth.
Get an Quote Today
If any of the above scenarios apply to you, it’s worth exploring high net worth insurance options.
Our specialist team is ready to help you find the right coverage for your unique needs. Get an quote today and ensure that your home and assets are fully protected.
High Net Worth Insurance Specialist is a trading name of PiA Commercial Ltd.
