High Value Homes
There are a growing number of products on the market for clients who need specialist cover for higher than average buildings sums insured, high value contents and/or have high value possessions. Whilst standard home policies can often cover these scenarios, Insurers can apply loadings or restrictions making them uncompetitive or unattractive.
These policies, however, have been designed to be individually underwritten, mostly on a “warranty free” basis, and offer options such as:-
- Comprehensive Buildings cover
- Worldwide Contents & Personal Possessions cover
- Specialist cover for Fine Art & Antiques
- The facility to include Travel and Small Craft cover
- Optional Second Home Insurance
For this type of policy the minimum sum insured for general contents is £50,000, although most true High-Nett worth policies start off at £75,000. In addition to covering general contents, additional cover can be included for Art, Antiques and Collectables in the following categories:-
- Antique Furniture
- Fine Art
- Rare Books
- Rare Glass
- Stamp Collections
- Coin Collections
- Porcelain
- Precious Metals (excluding jewellery)
- Precious Stones (excluding jewellery)
- Manuscripts
- Rugs & Tapestries
- Clocks & Barometers
- Sculptures and Statues
- Gold, Silver and Plated items
- Jewellery and Watches
- Furs
- Guns
- Wine
Aggregate values are required for each one of the above categories. If any items are valued in excess of £5,000 full details will be required and, on occasions, either a recent purchase receipt or valuation.
If you do need assistance with valuing your property Companies such as; Lyon & Turnbull, Gurr Johns, Authentica and Quastel Associates are on hand to review your sums insured. Please note that some Insurers offer financial benefits for using selected Companies. Please discuss with us any requirements you may have for a valuation.
To assist in determining values, we have a valuation facility which you can use in an excel spreadsheet format. Please contact us if you would like this sent to you by e-mail.
For this type of policy, there is an expectation that the property meets a minimum standard of security in terms of the door and window locks. Depending on the postal district and sums to be insured, an Approved Alarm system may be required, either on a bells only or central station basis.
For further information please contact:-
Graham Burling
grahamb@s-tech.co.uk
01223 324233