High Net-Worth insurance comprises several different products which require greater levels and types of cover due to an increased value or risk for the insurer, for example, prestige and luxury cars, high-value homes and contents, fine art, antiques, and collectibles too.

The term "high net-worth insurance" refers to a range of coverage options for persons with valuable residences, valuable assets, high-end automobiles, valuable jewels and collections, overseas properties, and a high volume of personal or professional travel. In addition, people with higher-profile jobs, such as professional athletes and individuals in the spotlight, may also fall under the high net worth category.

Travel Cover:

Most high net-worth policies offer an annual travel insurance that covers cancellation charges, medical expenses abroad, and costs due to delayed departure and missing luggage. Exclusions include traveling against medical advice, age restrictions, death, illness, or injury from dangerous activities.

Additional Covers:

In addition to the preceding list, there are many additional covers available as part of high net worth policies, such as:

Buildings Cover:

As part of a high net-worth policy, 'buildings' are likely defined as the primary residence, as well as any outbuildings, garages, swimming pools, tennis courts, and other structures on the property. High net worth insurance generally expands coverage beyond the parameters of a conventional policy to cover additions to the primary home, such as buildings and amenities.

Contents Cover:

The personal property you own is typically referred to as contents. This can apply to personal items, furniture, and other home items.

Most high-net-worth policies offer "global" coverage for contents, meaning that during the whole insurance period, all items are covered no matter where they are in the world. People who have multiple houses or travel frequently find worldwide coverage particularly appealing. Customers can obtain a comprehensive worldwide contents coverage that protects their possessions wherever they are, saving time and money compared to organizing numerous policies for personal items dispersed across multiple nations.

Valuables Cover:

Depending on your policy, your valuables—such as gold, jewelry, and fur—may be covered under your contents. In addition, if consumers have a specific list of valuables they would like to protect, such as fine art, antiques, and collectibles, insurers also provide distinct valuables coverage.

Extensions include protection for recently purchased assets, pairs, and sets, as well as an increase in the insured amount owing to the passing of an artist. Dented or faded stamps and coins, losses during transport, and harm brought on by changes are all excluded.

Liabilities Cover:

As a house owner or domestic staff employer, you unavoidably expose yourself to legal liability. Liabilities insurance safeguards you from claims involving your property or home personnel.

Legal expenses cover helps to offset the expense of pursuing claims against another party, such as those resulting from a contract dispute or an accident that results in the insured person's death or serious injury.

Travel Cover:

Most high net-worth policies offer an annual travel insurance that covers cancellation charges, medical expenses abroad, and costs due to delayed departure and missing luggage. Exclusions include traveling against medical advice, certain age restrictions, death, illness, or injury from specified dangerous activities.

Additional Covers:

In addition to the preceding list, there are many additional covers available as part of high net-worth policies, such as:
Small craft, pleasure boats, and motor yachts
Caravans
Second homes abroad
Family protection
Personal cyber insurance

It might be time to switch insurers whenever the service that your existing insurer provides doesn’t meet your needs. For example, if you have a poor claims experience or an unexplained rate increase, it might be time to consider other options

If you cancel a previous policy before a new policy is effective, you could run into some serious financial problems.

Contact us today to help you with multiple options to choose from.