There are many people who, let’s face it, don’t need high net worth insurance but then again, there are plenty of people who do. High net worth insurance was created as specialist insurance cover for people who have a higher net worth than the rest of us . . . with high value properties and homes, cars, jewellery and other possessions.
Standard insurance policies were not designed to furnish the needs of these people, standard insurance policies are fine for standard people, high net worth people need high net worth insurance policies.
Having said that high net worth insurance is not only for the Kings and Queens and those in the Forbes 100 Rich List – many of these policies start from around £75,000 worth of content which may sound like a lot but get out your calculator – add up the cost of your furniture, your white goods and electrical equipment, jewellery, clothing, special family heirlooms and other precious items. Just take a quick mental tour of your home and tot up the value of everything in a single room, then multiply by the number of rooms in your home; you may be surprised at just how much it all adds up to.
Why High Net Insurance is Vital
High net worth insurance is vital for anyone who has lots of cutting edge technology equipment, valuable art or antique collections – it is designed to help soften the financial blow if the worst did happen and those valuables were lost, stolen or damaged.
High net worth insurance policies will generally pick out the higher value items and price them individually and accordingly, something which would never be covered by a standard contents insurance policy.
Check with us to find out about whether your valuables are covered on your standard policy and whether you really need to invest in a high net worth insurance policy yourself.
