Standard insurance policies work well for straightforward needs, but if you lead a luxury lifestyle, they often fall short. Unique lifestyles require bespoke coverage.
A skilled, competitive broker is essential to negotiate the best terms with insurers. Our mission is to protect you, your family, and everything that matters in your world.
High Net Worth Insurance in comparison to Standard Insurance Policies
What is insured under Private Client Insurance?
At AssuredPartners, we take pride in our ability to cover even the most unique items. Our team has extensive experience protecting a diverse range of assets, from extensive vintage car collections to rare wines and some of the world’s finest homes.
Homes, cars, sculptures, antiques, jewellery, and watches are often underinsured. Determining the true replacement cost of these items can be challenging, and for some priceless pieces, it may even be impossible. However, accurate valuation is essential for proper coverage. That’s why we’ve compiled a list of important steps to help high-net-worth individuals avoid underinsurance.
- Walk around each room of your house and estimate the value of all the items you’d want to save in case of a fire or irreparable flood damage.
- Then also calculate the cost of your clothing, electrical items, bikes and possessions of considerable material value.
- Then add the cost of your carpets, curtains, fittings, chandeliers and utensils.
- Then calculate the cost of rebuilding the house. This includes the value of the house, the labour and the time it would take.
- Now look at your home and contents insurance policy wording, does it cover the total sum you’ve calculated?
- Does it specifically cover your art collection, antiques or collectables? Perhaps you are required to list these items – Is the list up to date? New items must be registered within a certain timeframe after purchase or risk not being covered.
Why high-net-worth individuals need a broker
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