Under Cover

Protecting expensive property and cherished possessions might be simpler than you think; you just need to know what to look for, as Richard McKenna of A-Plan Insurance explains

Whether you own a high value home, a second home in the UK or abroad, an enviable art collection or other high value belongings – getting the right insurance for your property is crucial. There are several specialist high value home insurance policies available, but there are a few areas to consider to ensure you get the cover that’s right for you.

Flexible and Bespoke

A standard policy is unlikely to give you the flexibility you need as they’re designed for the mass market and when it comes to buildings insurance, most general insurers will base the cover on the market value of the property. Whereas high value homes often need cover that’s based on the rebuild cost, particularly for older, period properties or listed buildings, which might require specific materials, irrespective of the cost or you may need to carry out specialist repair work if there’s any damage caused.

Specialist high value home insurance policies can include access to expert suppliers who can assist with valuing your contents and your home when tailoring the cover you need.

Fully-Comprehensive

Whether you have a collection of classic cars, vintage wines, or a second home, you should look at insurers that cover everything under one policy.

Most High-Net-Worth insurers provide home and motor insurance with an appetite for high value assets. From jewellery and watches to fine art, or designer collections including handbags and shoes through to large estates, they can insure multiple homes and cars and can include travel insurance right through to the yachts that are frequented on global travels.

Worldwide Cover

If you’re a frequent traveller, you’ll want the flexibility of being able to take your belongings anywhere in the world whenever you want, without having to contact the insurer. A high-net-worth policy should have this built in for you, so it’s one less aspect to organise.

Streamlined Process

Rather than researching all the high-net-worth insurers, it makes sense to use an insurance broker. They’ll already have a panel of insurers and can work with you to tailor the cover. Should the worst happen, they may well be able to assist with your claim and deal with the insurers for you.

Whether it’s arranging a new policy, making an adjustment or guiding you through a claim, brokers are there to act within your interest and to work for you. At A-Plan Private clients, we take time to assess your insurance requirements and provide bespoke solutions for individual needs. We work solely with market leading insurers to ensure our personal service is consistent with the cover provided.

Richard.Mckenna@aplan.co.uk