High Net Worth Individuals
Specialist household insurance policies have been created to provide cover for people with high value homes and contents.
Known as mid or high-net-worth policies, mid-net-worth policies tend to apply where general contents is estimated to be between £50,000 and £125,000, whereas as high-net-worth would have contents sums insured above £125,000.
Policies provide extremely wide cover, generally warranty-free, and a service which has been designed to suit the lifestyle, providing a level of cover which cannot be found on a standard insurance policy.
Policies can accommodate high levels of jewellery and personal effects, usually on a world-wide full all risks basis.
The level of service is exemplified by experienced claims teams who are dedicated to resolving your claims quickly, professionally and without fuss. Crucially they are able to offer flexibility as to how you want your claim to be settled, including the option to have a personal jeweller recreate a piece of lost jewellery
Rowlands & Hames has access to a range of mid and high net worth insurers – ask for a quotation from our Private Clients team.
Underinsurance can be a large problem for High Net Worth Household individuals due to many factors.
Aviva Insurance have produced the following guide into the perils of underinsurance and how you can avoid it:
We have also produced the following guidance to help ensure that your contents are correctly accounted for: