High Net Worth Insurance (UK)

If you are a high net worth individual, then you may consider a specific type of insurance known as high net worth insurance.

This is because your assets and possessions are likely to be much more valuable than the average person, so you will need to make sure that they are fully protected in the event of any kind of accident or incident.

There are several different providers of high net worth insurance in the UK, so it is important to compare them carefully in order to find the best possible deal. Make sure to consider things like the level of cover that you need, as well as any excesses or deductibles that may apply.

At Echo Finance, our expert team can help you to compare high-net-worth insurance cover from a range of different providers so that you can find the right one for your needs.

Our dedicated team of insurance brokers provide our clients with excellent service and tailored advice, so please do not hesitate to get in touch if you have any questions or queries.

What is high net worth insurance?

High net worth insurance is a type of specialist insurance solution that is specifically designed for people who have high value assets. This could include things like your home, your car, your jewellery and other valuable possessions.

It is important to have this type of insurance in place because it can give you peace of mind knowing that your home and belongings are protected in the event of any kind of accident or incident. It is also important to compare different policies carefully in order to get the best possible deal.

At Echo Finance, we can help high net worth individuals to compare insurance policies from a range of different providers. Offering a personal service, we will take the time to understand your personal circumstances and needs in order to find the right policy for you.

How is high net worth insurance different?

Standard home insurance policies are not designed to cover the nuances of a high value home.

For example, the average home insurance policy will have a lower limit on the amount that can be claimed for certain items, such as jewellery. Listed buildings, antiques and other valuable items may also not be fully covered by a standard home insurance policy

The insurance industry recognises that people who have high-value homes need a different type of solution. There are now a number of insurers who offer specialist policies that will take all of these things into account and provide you with the appropriate level of cover. It is important to remember that the cost of this insurance will be higher than a standard home insurance policy, but it is worth it for the peace of mind that it can provide.

How much cover do I need?

The amount of cover that you need will depend on the value of your assets. You should make sure to get adequate cover to protect your home, and all of your other valuable possessions.

Examples of high-value property that you might want to insure include:

• Your home – the value of your home will typically be much higher than the average person, so it is important to make sure that it is fully protected.
• Your car – if you have a luxury or high-end car, then you will need to make sure that it is properly insured.:
• Fine art - if you have any paintings, sculptures or other pieces of fine art, then you will need to insure them for their full value. Protecting fine art can be complex, so it is important to get expert advice.
• Jewellery - if you have any expensive jewellery, then you will need to make sure that it is properly covered.
• Antiques - if you have any valuable antiques, then you will need to insure them for their full value.

At Echo Finance, we can help you to compare high-net-worth insurance policies from a range of different providers.

How much does high net worth insurance cost?

The cost will vary depending on the value of your assets and the amount of insurance cover you need. You should make sure to get adequate cover to protect your home and all of your other high-value property, such as fine art.

What is included in high net worth insurance?

High net worth insurance policies may include:

• Buildings insurance – to protect your home and any outbuildings, or even tennis courts and swimming pools.
• Contents insurance – to protect your belongings, including furniture, clothes and electrical items, with some insurance products offering worldwide cover.
• Property owner's liability insurance – to protect you if anyone is injured or their property is damaged while on your premises.
• Cyber cover – to protect you against the cost of cybercrime, such as data breaches or hacking.
• Legal expenses cover – to help with the cost of legal action, such as disputes with neighbours or planning permission issues.

At Echo Finance, we can help you to find the right high net worth policy for your family's needs. We understand that every family is different, so we will take the time to understand your individual circumstances and find the right policy for you.