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Insurance Article

Know What Is A High Value Home Insurance

February 21 2018
High Value Home Insurance

If you are the owner of a luxurious home, you need to get it insured

Owning a high net-worth home is a great responsibility. If you are the proud owner of an expensive property, investing in a high value home insurance would provide adequate protection towards your home and the people living in it.

Why Buy A High Value Home Insurance Policy?

For the very rich, generally available home insurance policies would not be enough to cover your home and the contents in it, especially if you own antiques, expensive art and jewellery. High value home insurance policies are designed to fit your unique needs based on what you own and the value of it.

These policies bring you the necessary peace of mind that comes with the knowledge of having a financial cushion in event of a crisis.

What Is Covered By The Policy?

Insurance covers offered by companies for high net worth homes vary depending on the requirements of the home owner, which in turn depends on the value of the home and the assets within the property. Assets that may be included within the cover could be jewellery, antique pieces, priceless art, collectibles, vintage wines, guns and such other things the market value of which cannot be readily ascertained.

Before the insurance is bought, every home owner must have his or her high net worth assets professionally assessed in order to ensure that the policy adequately covers them. A high value home insurance plan does not only cover high net worth assets but also general household items and staff employed within the household such as cooks, butlers, nannies and drivers.

Can You Combine A High Value Home Insurance With Other Policies?

You will also have the option of combining your high net worth home insurance with other kinds of policies such as travel insurance, property protection insurance and the like.

What Insurance Companies Offer To High Net Worth Home Owners?

Insurance companies offer covers to high net worth home owners customizing it to fit the specific needs of the owner of the property. The plans are generally tailored to suit specific requirements. Policies are sometimes pre-designed for non-standard homes and includes heritage buildings, separate structures within the compound, vintage vehicles and luxury items. Quotes vary from company to company and may require some research on your part to narrow down to the one you need.

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