Above average protection for above average homes
If you live in an average three-bedroom home, a standard home insurance policy may be your best option, but if you have more to protect, it is unlikely to give you adequate cover and may prove to be a false economy – saving a few pounds on your premium now can cost you thousands in the long run.
The good news is that there is another option – High Net Worth (HNW) insurance.
Talk to the brokers at Hine about High Net Worth Insurance
HNW insurance is a specialist type of cover for people who own expensive homes and valuables. It offers a greater level of protection than the cover provided by most standard home insurance policies and can be more cost effective than you may expect.
The covers and limits have been created specifically for those who own more than average, and you don’t need to live in a stately home to warrant taking out a HNW policy. High value insurance is designed for those who own properties with a rebuild cost of £350,000 plus and/or contents worth more than £75,000.
Key benefits of a HNW insurance policy
Here are some typical features and benefits of a HNW insurance policy:
- Worldwide ‘all risks’ cover for contents and valuables
- Policy is free from or has less security warranties and conditions
- Valuation service to make sure your possessions are correctly valued and insured
- Specialist valuables cover – higher limits for high value items such as fine art, antiques, gold, silver and jewellery
- Travel insurance
- Guests’ property – includes any guests’ possessions
- Accidental damage included as standard
- Family legal expenses
- Identity theft protection
- Cover for holiday or second homes in the UK or abroad.
Remember to notify your insurance company if you add any expensive new items to your home. Most large home insurance policies will give an automatic temporary increase in the maximum sum assured, but the insurer will want full details of the purchase within a specific time limit to confirm an increase in cover, and this may involve paying an additional premium.
Buyer beware
Before you decide to arrange a HNW insurance policy, always ask if any exclusions apply – you need to know about these upfront, not when you’re trying to make a claim.
If you think your home and valuables would benefit from HNW insurance protection, call Hine on 0161 438 0000.
