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High Net Worth Home Insurance
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High Net Worth (HNW) properties are special. Their high value coupled with the fact that HNW homes are often of a non-standard construction means that getting the most appropriate – and cost-efficient - property insurance may be difficult.
That is where high value or high net worth property insurance plays such an important role.
Why do you need specialist high value property insurance cover?
Prestige homes are not only high value homes, they are also invariably one-off, properties of some architectural interest and importance. They are special homes.
In recognition of that fact, they also need specialist, prestige home insurance.
For such specialist cover, you probably want to deal with experienced HNW insurance brokers such as ourselves who recognise the unique characteristics and value of your high value home.
When it comes to insurance for the structure and fabric of the building or buildings, for instance, you want the reassurance that these have been properly and accurately valued. Repairs to damage sustained by a high value home are likely to be considerably more expensive than similar damage to a regular, mass-produced family home.
If the worst comes to the worst and your home is completely destroyed – in a serious fire, for example – you want the confidence and reassurance of knowing that the total building sum insured is sufficient to cover reconstruction from the ground up at today’s prices. That is a valuation demanding specialist skills and knowledge, yet one that is essential to ensuring that the structure of your prestige home remains adequately protected.
Similar considerations and specialist expertise are likely to be needed when arriving at a value for the contents of your home. This might include art collections, libraries of rare books, or other items of exceptional value. Specialist understanding and professional valuation is likely to be required for the high value contents of your prestige home.
As the property owner, you may be held liable if anyone – a visitor to your home, a tradesman or supplier, or even a neighbouring or passing member of the public – is injured or has their own property damaged through some connection with your home. As a High Net Worth individual, you may be sure that any such claim for compensation is likely to be seeking the maximum damages to which the injured individual may be entitled. In a word, therefore, it is especially important for you to hold sufficient property owner’s liability insurance.
Why choose us at UKinsuranceNET?
All the expertise and experience you need in arranging comprehensive insurance cover for your unique, high value home you are likely to find here at UKinsuranceNET.
We have access to unique and exclusive insurance schemes you are unlikely to find elsewhere, yet still manage to secure these policies at competitive, high value-added rates.
In the event of our own specialist knowledge of a particular high value property or its contents being insufficient, we also have access to a wide range of professional advisers and valuers.