Prestige Home Insurance
If you own a high net-worth (HNW) property and have belongings that are of high value, it’s important to ensure that you take out prestige home insurance in order to meet your specific needs and requirements.
Prestige home insurance can provide cover for owners of premium properties such as country estates, mansions or penthouse apartments, ensuring that you have adequate cover in place in the event that the unexpected should happen.
Dover Street Insurance Brokers can help you find a prestige home insurance policy that could protect your most valuable asset. Read on to find out more.
What is prestige home insurance?
Also known as premium house insurance, mansion insurance or family estate insurance, prestige home insurance will help to ensure that your property has the protection that it deserves and is covered against a range of risks, especially if you keep a lot of high value items in it such as fine art, antiques, designer clothes and luxury watches.
What prestige home insurance covers
There are several different types of prestige home insurance cover that you could consider for your property. These include:
- Buildings insurance: In the event that your home is damaged or destroyed, this will cover the cost of rebuilding or repairing its structure. With that in mind, it is important to make sure that you should insure your home for the total cost of rebuilding it from scratch, in case the worst should happen.
- Alternative accommodation cover: If your home is made uninhabitable due to an insured event, such as a fire, storm or flood, this will cover the reasonable costs for emergency accommodation.
- Replacement locks cover: If your keys are lost or stolen and you need to replace the locks of your property, this will cover the cost and help to ensure that your security isn’t compromised.
- Trace and access: If you need to locate and isolate the source of a leaking water, gas, or oil pipe, this will cover the cost.
- Domestic liability insurance: Provides cover if a domestic member of staff (such as a cleaner, housekeeper or gardener) suffers an accident on your premises.
- Contents insurance: If your valuable items were accidentally damaged or stolen, would you be able to foot the bill without having specialist high net-worth contents insurance in place? This type of policy will cover the non-permanent fixtures in your property such as furniture, rugs, curtains, technology and your personal belongings, ensuring they are protected if the unexpected should happen. When considering the amount of cover that you need for the contents of your high-value property, it’s important to think about the total cost to reinstate or replace your contents on an equal basis in the event of any potential loss. Remember, if the worst were to happen and you have under-insured, you could be left out of pocket.
- Garden and grounds insurance: Provides cover against theft or damage to items in your garden or grounds. For example, statues, fountains, garden ornaments and furniture, valuable plants, machinery or expensive tools and the contents of sheds or garages.
These are just examples of some of the types of prestige home insurance policies that we look after at Dover Street Insurance Brokers. As we know that no two properties are the same, speak to us today to find out which policies will best meet your needs.
Do I need prestige home insurance?
In the event that a claim is made against you in regards to your high value property, property insurance will protect you from financial liabilities and ensure you have the correct amount of cover in the event that things go wrong.
Given the value of your property and belongings, it is important that you are properly covered if the unexpected happens and damage or theft occurs. Would you be able to rebuild your home or replace your most prized possessions without it?
The cost of prestige home insurance
A high net-worth home insurance policy may cost much less than you may think, and the premium you pay will depend on several factors. These include the size of your property, the level of cover that you need and the amount of cover that you will need to take out. You may also choose to pay for extra cover such as legal expenses, business and office equipment, and personal accident, all of which will have an additional cost.
In addition, it’s also important to note that if your property is a listed building, it may be more expensive to insure due to the special materials and craftsmanship that could be needed to make any repairs.
At Dover Street Insurance Brokers we understand that cost is important to you, but it is crucial to ensure that you are properly protected. With that in mind, we will take the time to understand your specific needs and recommend the amount of cover that is best suited to you.
How can I get prestige home insurance?
Dover Street Insurance Brokers have a team of specialist advisers ready to help you get the right protection in place for your property.
We will take the time to understand your specific needs and are committed to delivering a completely personalised service, ensuring that you have the best possible cover at the best possible price.
To find out how much peace of mind costs, contact one of our team by calling: 0208 057 4130.