The Reasons To Consider A High Net Worth Home Insurance Policy

If you own your own home then it is likely that you have taken out a home insurance policy

. However you may be potentially unaware that it is not effectively covering your house or all of your valuable contents such as jewellery, electrical equipment or even those of your friends and relatives when they come to stay with you.

High net worth home insurance is the most comprehensive form of home insurance which covers you for almost every possible eventuality, leaving you safe and sound in the mind that if a problems arises you will be able to make an insurance claim successfully. Firstly you will need to find out if your home and its contents can qualify for a high net worth home insurance policy, most insurance brokers require your homes value to be over 250,000 pounds and its contents to be worth around 75,000 pounds, however this can range depending on the broker and the policy.

You may not feel that your homes contents is worth over 75,000 pounds but most people are surprised at the worth of the contents that they have amassed over time, and therefore also unaware that they may not receive full compensation if a significant amount of the contents was to be damaged or stolen. Some insurance brokers that specialise in high net worth home insurance policies will offer free valuations so you can take peace of mind in the fact that all of your possession will be covered effectively.

High net worth home insurance policies usually include a number of extras, providing covers in areas that you would usually have to take out a number of separate policies for. Worldwide insurance cover is usually included in the package that insures you covered for loss or accidental damage for your possessions even when travelling abroad. Almost all claims will be settled on the old for new basis, with no deductions on value for wear and tear, and this can also extended to include items such as designer clothing.

Whilst high net worth home insurance policies are on the whole generally more expensive than standard home insurance policies the added level of insurance and cover is outstanding. They generally provide a lot more value for your money than other insurance policies available for your home. When weighing up the added insurance cover and the different insurance policies bought each year, most people find that a high net worth home insurance policy is much cheaper.

by: Neil Anderson

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