PRIVATE CLIENTS AND HIGH NET WORTH POLICIES
We took a bold move in 2010 by appointing local High Net Worth Policy expert, Christine Green, into the firm to cater for the increasing market for highly specialised insurance products aimed at owners of higher value homes and possessions.
Christine had spent the last ten years working in this area and so brings with her one of the best insurance minds in the business for this type of risk.
Although there are no clear cut guidelines in this market – as everything can be adapted to an individual’s needs – High Net Worth Policies will suit people who have properties with a rebuild cost of more than £300 000, contents and possessions in excess of £50 000, collections of antiques and art, classic or valuable motor vehicles.
There is a call for this type of cover in light of the packaged nature of most standard products and their inability to cope with items of substantial value amongst a normal list of contents.
The advantage of these types of policy is that the policy is written specifically for your requirements and will cover your possessions often without imposing the tiresome conditions that can apply on standard policies.
Many people only discover this when something goes wrong.
Christine has dealt with some of the wealthiest individuals in the area and has gained a reputation for being thorough and not leaving anything to chance. She will carry out a survey of your home and possessions and, where appropriate, arrange for items to be valued, photographed and catalogued for you. This makes sure that if a claim ever does arise, it is a formality rather than a hassle.
Contrary to expectations this cover is actually cost effective and is not usually substantially more than a packaged product – in fact, occasionally it works out cheaper – because the insurers know that people who own valuable properties and possessions generally look after them better, keep them maintained and take steps to keep them secure – which obviously makes them a better proposition from a risk point of view.
Christine is based at our Holderness Road Office, so, if you feel that you need some specialist insurance advice give her a call on (01482) 707800 and she’ll be happy to help.
