High value home insurance Are you really covered?
October 2nd, 2017, Zena Carter.
How most policy holders, don’t have the right cover.
It’s a startling thought. Did you know that many insurance policy holders don’t know exactly what their policy cover? Chances are, you won’t know the difference between high net value and household contents insurance. In fact, most people aren’t familiar with exactly their policy covers at all.
But that’s ok. Today, in this post, we are going to walk through the difference between high net and standard insurance any why it’s so vital to make sure you have the right policy for your needs.
So, first off, what’s the difference?
High Net Value vs Standard Content?
If you’re living in a home with a high net value, say, for instance: over 500K, you need a level of insurance that goes well beyond the cover designed for a typical British household.
Why? Because you will find that many high street insurers simply won’t have the cover that will match your needs, meaning, if the worst happened, you would only get back he value you had insured and nothing else. The result? If your much-treasured grandmother’s engagement ring is over that limit, it’s lost for good.
Therefore, you need a service that will embrace your entire lifestyle and your possessions, and most importantly covers everything you need it to. So, the secret is, to make sure you’ve checked that small print and understood everything.
Which Policy Do I Need and Is There Someone Who Can Go Through The Small Print With Me?
The rule of thumb when thinking about what policy you might need, is this: for a home with a high net value – and items such as antiques and fine art, listed properties, second homes, holiday homes and high-tech equipment, you will need to consider a high net value policy. The best thing to do is talk to an independent broker who will talk you through a wide portfolio of different insurers meaning you get the very best policy tailored just for you!
A word of warning
It’s always important to remember that when it comes to high net insurance, a ‘one size fits all’ policy is never a good idea. Just think, if your next-door neighbour has a listed property and you have a thatched roof property, having the same policy as each other won’t match your needs.
All of which proves that made-to-measure bespoke is always a better fit than off-the-peg with alterations.
What to do next
Fill out our online form below or give us a call on 01285 885 885 and our friendly team will walk you through any questions you might have about your needs. It might be the most important call you make today.