Benefits of a High-Net-Worth Insurance Broker
Sep 10, 2024
Wealthy individuals with significant assets can often face unique insurance challenges. As your wealth grows, so does your need for careful insurance planning and advice. Specialist high-net-worth insurance brokers, like our Private Clients team, specialise in reviewing and finding solutions for your specific needs.
What is High-Net-Worth Insurance?
High-net-worth insurance refers to a range of insurance products designed to protect people with substantial assets.
These assets can include:
High-value homes: If your home has a rebuild value of £750,000 or more, or you need more than £100,000 cover for your contents.
Valuables: This can include jewellery, antiques, collectables, classic and high-performance cars.
Who needs High-Net-Worth Insurance?
While high-net-worth insurance primarily caters to those with specialist insurance needs, you don’t have to be rich and famous to benefit from it. If you have significant personal assets, this type of insurance can help maintain and protect them.
Items covered by High-Net-Worth Insurance policies
High-net-worth individuals can often accumulate valuable items over time. Some of these items can be underinsured because standard insurers cannot provide enough cover.
Here are more examples of items that can be covered by high-net-worth insurance:
Property: High-value homes, listed properties, second homes, overseas homes, and property portfolios.
Assets: High-value home contents, high-performance vehicles, car collections, fine art, wine, memorabilia, designer clothing, gadgets, jewellery, collectables (coins, stamps wine), boats and yachts.
Benefits of using a High-Net-Worth Insurance Broker
Expertise: Dealing with a specialist broker can help eliminate worries about policy clauses. They can also advise on unusual risks often overlooked by standard insurers, such as cyber security, media liability, and kidnap and ransom.
Higher limits: Single-item limits are typically higher than standard personal policies.
Common renewal date: All your personal insurance needs can have one renewal date.
Less restrictive clauses: High-net-worth policies can often have less restrictive conditions or warranties, depending on the policy wording.
How our Private Client Team can help
A high-net-worth insurance broker, like our specialist team can arrange tailored cover that aligns with your lifestyle and requirements. Whether it’s protecting your home, family, or assets, we can offer a discreet and trusted service.
When it comes to protecting the things you care about most, having the right insurance partner matters.
Get in touch to find out more.
