Think about high net worth insurance and you might envisage an A-list celeb, an elite footballer or a high-flying entrepreneur, but this isn’t cover exclusively for the rich and famous.

More and more people – just like you – find themselves in need of an insurance policy that goes above and beyond the basic requirements.

Could your net worth have grown slowly, without you realising the value of your contents has increased? Maybe you’ve inherited items of value? Or perhaps you’ve just not had time to gauge the true value of your assets?

Covering everything from high-value personal items to artwork, classic car collections to swimming pools – don’t make the mistake of thinking mid to high net worth insurance doesn’t apply to you.

For complete confidence in your cover, speak to the team at Rigby Financial today.

What exactly is high net worth home insurance?

Luxury home insurance, high-value property insurance, premium home insurance – these are all just different names for the same product. 

Put simply, high net worth insurance is a type of property insurance designed to cover homes and belongings that are likely to exceed the average homeowner’s policy. 

Offering a more bespoke approach, this isn’t an ‘off the shelf’ policy. Instead, high net worth insurance puts more comprehensive cover in place to ensure no one is left underinsured and out of pocket in the event of a claim.

Who is it for?

High net worth cover is aimed at the higher end of the market.

If you’re unsure if high net worth insurance applies to you, consider the following:

  • How much would it cost to rebuild your property?

If the answer to this is more than £1,500,000, you’ll likely need high net worth cover.

  • Would £150,000 be enough to replace the contents of your home?

If that’s unlikely, and wouldn’t finance like-for-like replacements, this is an indicator you need a high net worth policy.

  • Do you have expensive jewellery or watches?

It’s not unusual for people to underestimate the accumulative value of their belongings. If you own designer jewellery or luxury watches, these possessions can quickly bump up the value of cover needed should they be lost or stolen.

  • Do you own artwork or other collectables?

Impressive football memorabilia, fine art, classic cars, wine – whatever your passion, if you own high-value collectables, it’s essential these are adequately insured. The last thing you want is for financial loss to add to the emotional anguish should anything untoward occur.

What can be covered with high net worth insurance?

Tailored to your needs, high net worth cover does the same as a standard home and contents cover only in greater detail and to a higher value.

If you sail and own a yacht, it’s covered. If your home has numerous outbuildings, they’re covered. If you spend time doing charity work, you’re covered.

Other perks include:

  • Annual travel insurance – this can be an optional add-on or, in many cases, comes as standard with your policy.
  • Multiple properties – if you have more than one home – a city centre base, a country retreat, or a villa abroad – just let us know.  A second home (or a third!) is no problem to add to your policy.

What are the benefits?

We can never overemphasise the value of having appropriate insurance cover in place. Advantages of taking out high net worth cover, include:

  • Wider cover

As a more detailed policy, you can enjoy wider cover, meaning things such as cyber protection (encompassing online liability, systems damage and cybercrime) that wouldn’t normally be covered with a standard policy, are safely insured.

  • Expert appraisals

Benefit from expert insurance appraisals to ensure your policy is fine-tuned to your personal requirements and you’re getting exactly the cover you need. 

  • Bespoke pricing

With a policy tailored to your unique requirements, you can be confident you’re only paying for what you need.

  • Access to the experts

Not entirely sure how much your belongings are worth? Don’t worry, with a high net worth policy you gain exclusive access to highly trained experts from valuers to restoration specialists.

Talk to the team

Concerned you might not be fully covered?

To discover more about the exclusive benefits of high net worth cover, get in touch with the team today.

As experienced high net worth insurance brokers, we are on hand and ready to offer advice and support, so you can enjoy the complete peace of mind that only comes from knowing your home and belongings are properly insured.

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