Here are our MoneyHighStreet easy to follow steps on how to buy high net home insurance. In summary you’ll need it because your needs are somehow different from the ‘standard’ home insurance requirements.
Is your home for example of a higher value?
Or do you have additional houses you need to insure, perhaps a holiday home?
Have you become a reluctant landlord and have one or more rental properties?
You could also need high net worth home insurance because you have high value contents.
For example, do you have a very valuable, individual piece of jewellery or fine art?
Or perhaps a high value collection? Maybe the family silver, a collection of Clarice Cliff, steiff bears, wine or stamps perhaps?
Now lets turn to How to buy high net worth home insurance
As this insurance is not standard, we at MoneyHighStreet strongly suggest using an insurance broker to help you.
The decision is of course yours, our key reasons for this approach though are:
- as a non-insurance professional you are unlikely to understand all the insurance terminology, the implications of limits of cover offered and critically be able to assess what cover you really need
- an insurance broker will fully assess your insurance needs
- an insurance broker will take these needs and then research the market to make sure you get the cover you need and means you don’t need to worry about comparing quotes from different providers
- an insurance broker will support you should you need to make a claim.
With so much marketing around home insurance comparison sites there is a temptation by many to opt to use them to get cover.
For those with ‘standard’ requirements this will often be a good option.
For non-standard needs though, this is unlikely to be the case – providers are unlikely to quote online for anything out of the ordinary anyway.
Fundamentally, insurance is about making sure you are covered should you face an issue, such as a burglary, fire, have some damage as a result of some DIY activity, etc and need to make a claim.
Getting the cheapest policy may not be the best option – you may find you’re not covered when you need to make that claim.
There is of course the need to get cover at the best price, but don’t just be driven by price. First and foremost make sure you buy a home insurance policy that meets your needs.