A high net worth policy is designed for owners of higher value homes and possessions.
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.
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 well., keep them maintained and take steps to keep them secure – which obviously makes them a better proposition from a risk point of view.
If you feel that you need some assistance with your insurance needs give us a call on 01482 707800 and we will be happy to help.
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