High Net Worth Home Insurance

In the UK, a high net worth home typically meets one or more of these criteria:

• Rebuild cost of £750,000 or more

• Contents and personal possessions valued at £150,000 or more

• Individual items worth over £10,000-£25,000 (such as jewellery, art, or watches) • Listed buildings or properties with heritage features

• Homes with specialist features like swimming pools, extensive grounds, or outbuildings However, we don’t work to strict thresholds.

If your property has exceptional features, valuable contents, or unique risk profiles, you may benefit from high net worth home insurance regardless of these figures. We tailor each policy to individual circumstances, not rigid criteria.

This is a crucial distinction that many homeowners misunderstand: Market value is what your property would sell for on the open market, including the land value and location premium. Rebuild cost is the actual cost to reconstruct your home from the ground up, including:

• Labour and materials at current rates

• Specialist tradesmen for period features

• Authentic materials for listed buildings

• Architect and surveyor fees

• Site clearance and debris removal

• Temporary accommodation during rebuild Your rebuild cost could be significantly higher or lower than market value. A central London townhouse worth £3 million might only cost £1.5 million to rebuild, while a £2 million listed country manor could cost £4 million to properly restore with period features and specialist materials. We strongly recommend obtaining a professional RICS (Royal Institution of Chartered Surveyors) rebuild valuation to ensure accurate coverage.

Yes, we strongly recommend it. A professional rebuild cost assessment (RCA) from a RICS-qualified surveyor ensures:

• Accurate rebuild costs for insurance purposes

• No underinsurance issues that could reduce your claim payout

• Proper allowance for specialist features, period details, and non-standard construction

• Peace of mind that you’re adequately covered

• Compliance with insurer requirements for high-value properties Most insurers recommend updating rebuild valuations every 3-5 years, or whenever significant improvements are made to your property. We can arrange professional RICS valuations through our trusted partners. Online calculators from the Association of British Insurers (ABI) work well for standard homes, but luxury properties, listed buildings, and homes with unique features require professional assessment.

Premium costs vary significantly based on your specific circumstances: Typical Annual Premiums:

• Standard high-value homes (£750,000-£2M rebuild): £1,500 – £3,500

• Luxury properties (£2M-£5M rebuild): £3,500 – £8,000

• Ultra-high net worth estates (£5M+ rebuild): £8,000 – £20,000+

• Additional valuables coverage: 0.5% – 2% of declared value per annum Factors Affecting Your Premium:

• Property rebuild cost and location

• Contents value and types of valuables

• Security measures in place (alarms, CCTV, safes)

• Claims history

• Property usage (primary residence, second home, rental)

• Age and construction type

• Whether it’s a listed building

• Proximity to flood zones or other risks

• Your chosen excess amount London properties typically attract higher premiums due to increased burglary risk and higher rebuild costs (often £2,500-£4,000 per square metre). We provide bespoke quotations from multiple specialist insurers to ensure you receive competitive rates for comprehensive cover.

Absolutely. In fact, this is one of the key reasons to choose specialist high net worth insurance over standard policies. Listed building coverage includes:

• Use of authentic period materials (lime mortar, hand-made bricks, reclaimed timber)

• Specialist craftsmen (stonemasons, thatchers, master carpenters)

• Restoration to heritage standards • Compliance with Historic England regulations

• Conservation officer fees

• Extended rebuild timescales (listed buildings take longer to restore)

• Matching original architectural features • Listed building consent costs Standard home insurance often caps specialist materials at much lower amounts, which would be wholly inadequate for proper heritage restoration. We work with insurers who truly understand the unique requirements of listed and heritage properties across all grades (Grade I, II*, and II).

This depends on your insurer’s “single item limit” — the threshold above which items must be individually listed: Standard Home Insurance: Items over £1,500-£2,500 Mid Net Worth Insurance: Items over £10,000 High Net Worth Insurance: Items over £25,000-£50,000 Items that typically require professional valuation and specification:

• Fine art, paintings, and sculptures

• Antique furniture

• Jewellery and precious gemstones

• Luxury watches (Rolex, Patek Philippe, Audemars Piguet)

• Collections (stamps, coins, wine, rare books)

• Musical instruments

• Designer handbags and accessories

• Antique silverware and china Even if items don’t exceed your policy’s single item limit, we recommend professional valuations for:

• Proof of ownership in case of claims

• Accurate insurance coverage

• Estate planning purposes

• Peace of mind Valuations should be updated every 3-5 years, as luxury goods, art, and antiques often appreciate significantly over time.

Yes, one of the major benefits of high net worth home insurance is comprehensive worldwide coverage for your valuables. Worldwide “All Risks” Cover typically includes:

• Jewellery, watches, and precious items worn or carried

• Coverage anywhere in the world, with no time limits

• Accidental damage and loss (not just theft)

• Mysterious disappearance (some policies)

• Pairs and sets coverage (if one earring is lost, both are replaced) Standard home insurance typically only covers jewellery:

• At your home address, or

• Outside the home for maximum 60 days, or

• With very low limits (£1,500-£5,000 total) With high net worth insurance, you can travel internationally with your valuable jewellery and watches fully protected. Many policies cover items up to £50,000-£100,000 individually without requiring additional specification.

Yes, portfolio insurance policies are specifically designed for this purpose and offer several advantages: Benefits of Portfolio Coverage:

• Single policy covering all your properties

• One renewal date for simplified administration

• Potential premium discounts for multiple properties

• Consistent coverage standards across all properties

• Easier claims management

• One point of contact for all insurance matters Types of Properties You Can Include:

• Main family residence

• Second homes and holiday properties

• Investment properties (buy-to-let)

• Overseas properties (UK-based insurers often cover European homes)

• Commercial properties you personally own We can structure policies to accommodate different renewal dates when consolidating existing coverage, or include all properties from the outset. Portfolio policies typically result in both better coverage and cost savings compared to insuring each property separately.

This varies by policy, but high net worth insurance offers much more flexibility than standard home insurance: Standard Home Insurance: 21-30 days maximum unoccupancy High Net Worth Insurance: 60-90 days or more, depending on insurer For properties that are regularly unoccupied (such as second homes or holiday homes), we can arrange:

• Extended unoccupancy periods (6-12 months)

• Specialist second home cover

• Security requirements tailored to unoccupied periods

• Regular inspection clauses

• Specific seasonal usage patterns Important considerations for unoccupied properties:

• Enhanced security measures may be required (alarms, CCTV)

• Regular property inspections may be mandated

• Utilities may need to be maintained (heating to prevent freezing)

• Contents may need to be removed or specially secured

• Higher excesses may apply Always inform your insurer of extended absences to ensure continuous coverage.

Security requirements vary based on property value, location, and contents, but typically include: Minimum Standard Requirements:

• Intruder alarm system monitored by an approved company (NSI or SSAIB certified)

• Five-lever mortice deadlocks on all external doors (BS3621 standard)

• Window locks on all accessible windows

• Secure garage and outbuilding access

• Adequate external lighting Enhanced Requirements for Higher-Value Properties (£2M+):

• Professionally monitored alarm system with police response

• CCTV coverage of perimeter and entry points

• Motion-activated security lighting

• Timed lighting systems when property is unoccupied

• Security safe for high-value items (often required for jewellery over £25,000-£50,000)

• Regular security patrols for long-term unoccupancy Additional Recommendations:

• Smart home security systems with remote monitoring

• Video doorbells

• Electronic gates and access control systems

• Emergency panic buttons

• Water leak detection systems

• Temperature monitoring (to prevent freeze damage)

We can arrange security consultations to help you meet insurer requirements while optimising your protection. Many insurers offer premium discounts for enhanced security measures beyond minimum requirements.

Yes, domestic employer’s liability is a crucial element of high net worth insurance: Domestic Staff Coverage Includes:

• Housekeepers, cleaners, and domestic workers

• Gardeners and groundskeepers

• Nannies and au pairs

• Private chefs and catering staff

• Chauffeurs and drivers

• Property managers and estate managers

• Security personnel

• Personal assistants working from your home Coverage Typically Provides:

• Employer’s liability (legally required if you employ staff)

• Protection against injury claims from employees

• Legal defence costs

• Guest and visitor liability

• Public liability for events hosted at your property Standard Limits: £10,000,000 for employer’s and public liability This coverage is essential as high net worth individuals are more likely to be targeted for liability claims. Having domestic staff increases your exposure, making comprehensive liability protection vital.