What is High Net Worth Personal Insurance?
For individuals with significant assets, standard insurance policies often fall short in providing the necessary protection. After all, a standard insurance policy might not fully account for the higher values or unique risks associated with luxury homes, valuable collections, or any other bespoke items. And without the right cover in place, there’s a risk of underinsuring or facing substantial gaps in protection.
This is exactly where high net worth personal insurance proves its value. But what does this insurance cover? Our personal insurance experts are here to explain.
What is High Net Worth Personal Insurance?
High net worth insurance, sometimes referred to simply as high-worth insurance or even just HNWI, is designed specifically for individuals whose financial assets exceed the limits of a typical insurance policy. This type of coverage goes beyond standard home or contents insurance, providing higher coverage limits and specialised protection for assets such as luxury properties, fine art, jewellery, and more.
Key Features of High Net Worth Personal Insurance
As specialist high net worth insurance brokers, our policies available from Higos offer a range of features that ensure full protection for your most valuable assets:
- Comprehensive Coverage: Unlike standard policies, high net worth insurance covers a wide range of high-value items, including jewellery, artwork, and antique collections.
- Customisation: These policies are highly customisable, allowing you to tailor coverage to your specific This means that every policy is unique to the individual, whether you need additional coverage for second homes or high-end vehicles.
- Higher Coverage Limits: One of the main benefits of high net worth home insurance is that it provides much higher limits on claims, making it suitable for insuring luxury homes and
Types of Coverage Offered by High Net Worth Personal Insurance
A high net worth insurance policy typically includes a range of coverage types that address the specific needs of an individual. As mentioned above, each policy will be tailored for the individual, but common examples of cover include:
Property Insurance
Luxury homes and second properties can be covered under high net worth home insurance. These policies ensure your properties are protected from damage, theft, or other unforeseen events.
Valuable Items Insurance
Whether it’s rare artwork or a valuable wine collection, high net worth insurance provides specialised coverage for items that hold significant monetary or sentimental value.
Personal Liability Insurance
High net worth individuals often require more robust personal liability protection. This safeguards you against large claims in the event of an accident or legal dispute.
Specialist Coverages
Depending on your lifestyle, you may require additional cover for private collections, yachts, or even personal staff. At Higos, we can work with you to craft a policy that covers these unique assets, providing peace of mind that every aspect of your life is protected.
Are you looking for high worth insurance to protect your most valuable assets? As high net worth insurance brokers, our expert team will work with you to tailor a personalised policy that fits your needs. Get in touch today by calling us on 01458 270324.