High Net Worth
High Net Worth is a very strange term and if you’re asking what is it then here is a very street level answer. If your personal insurance premiums, excluding medical cover, for your cars, home and contents are in excess of £5k then you are deemed a High Net Worth Client
Many people feel they know all about insurance, and treat is a bit too simplistically. Seeing a few meerkats, or a plus size opera singer is not where insurance starts and ends
Yes you can have an inventory of your most prized possessions but it really does pay to review what you have yearly. If you have your house alarm and your well being checked annually, going over what you have from clothes and shoes to crockery, cutlery, antiques, object d’art and all manner of gifts will would seem equally important to check.
For sure it may take a day or less, but it will make life a lot easier in the unfortunate event of a claim. Alternatively you can instruct one of the auction houses to do a full inventory and valuation but they will usually charge a percentage of the overall valuation which will be the full value.
Insurers look at value differently and see things on a like for like is basis which in effect is the replacement value and not the retail value. It can mean a difference of 50% less. Not all Insurers will go to where you bought the item either if it needs replacement
Dependent on the individual items it would always be prudent to itemise anything over £1,500 and where value is substantially higher , say £10k then Insurers will expect you to have a “professional valuer” establish their assessment, some may insist of everything being listed over £2,500
In today’s world much as we want to turn the clock back it’s a pipe dream, you have to think about a decent alarm system and link it as a matter of course to your local police station. It’s a no brainer.
Should you be paranoid over insurance? No never, but you need to be a realist.
Time consuming or not for sure, we can help secure full cover at an economic price for you, and ensure you relax knowing all is as you would expect it to be.
Strange as it may sound in a world where no one seems to care or show respect, we are on your side and never stop working for you .
