If your current home, or one you plan to buy is worth £750k or more, you may need high value home insurance. Standard home insurance policy rebuild costs often max out at around this level, so it’s a good idea to look at insurance providers who specifically deal in high net worth clients to ensure you’re properly covered.
We look at how high net worth home insurance differs from standard policies, who offers it, and how to find the most suitable policy for you.
What is high net worth home insurance?
The Financial Conduct Authority’s (FCA) defines a high net worth (HNW) customer as an individual with an annual income of at least £300,000, or net assets worth £3 million or more, excluding primary residence and pension. Customers in this category often have access to a more flexible and tailored approach to financial services in general, including home insurance.
Standard home insurance products often fail to provide the breadth of cover required. High net worth home insurance, on the other hand, is specifically designed to cater to estates that exceed the limits of traditional policies. For example, higher value homes are often of non-standard construction, whether that’s a Grade II listed manor house or a large self-build eco home project on acres of land.
Higher value homes also intrinsically have higher value contents. This could simply be due to having higher end appliances and clothing than the average household, or something unique, such as a collection of fine art or antiques. High value home insurance cover is typically bespoke to your asset type.
How to access high value property insurance
Securing the right level of cover and type of policy to protect premium assets requires professional oversight. Specialist home insurance brokers act as intermediaries who understand the nuances of the high net worth client.
They provide a discreet, personal service, conducting thorough appraisals of property and contents to ensure there are no gaps in coverage. They are also often essential for negotiating terms with elite underwriters. You may also be able to cover multiple homes under the same policy, with many high net worth insurers taking a portfolio approach.
Selecting the right insurer for high value homes and contents is the key factor in ensuring your policy fits your home’s unique requirements.
Benefits of using a high value home insurance provider
High value home and contents insurance policies tend to take a bespoke approach, whereas standard home insurance policies are usually offered at set tiers. Here are some of the main benefits of choosing a bespoke home insurance provider and policy if your home and possessions are higher than average in value:
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Bespoke policy tailored to your higher value property and belongings
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Higher limits listed in policy wordings
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They often offer ‘All risks’ cover as opposed to caveating certain events as ‘acts of God’ and therefore making them unclaimable
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It’s typical to get worldwide cover as standard for your contents and valuables
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These types of insurer tend to also offer bespoke claims service, rather than switchboards
There are also often specific clauses available to HNW customers that cannot be found in standard insurance policies. For example:
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Trace and Access: Where standard policies often limit the cost of finding a leak, HNW policies typically provide unlimited "trace and access" cover. This is vital when you have expensive flooring or integrated plumbing that needs to be ripped up to find a burst pipe
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Pairs and Sets: If one item of a pair (like an earring or a specific antique chair) is lost or damaged beyond repair, the insurer will often pay for the full replacement of the set, rather than just 50% of the value in HNW policies
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Agreed Value: HNW policies often allow you to insure items like watches or art at an agreed value based on a recent appraisal to eliminate haggling at the time of a claim
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Cyber & Identity Theft: Many modern HNW policies now include personal cyber cover as standard, protecting the family against ransomware, social engineering, and identity fraud
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Warranty free cover: Often HNW has no void clauses, so if you forget to set the alarm one night and get burgled, you are still covered
Get bespoke HNW home insurance quotes
Insurance providers available
Many high value home insurance policies are integrated with private banking services, as part of the wealth management provision. However, there are a wide range of providers offering this type of service, each of which has their own unique benefits.
Some examples can be found below, however, it’s best to speak to a broker with experience in arranging high net worth home coverage. Besides the fact that they can search the entire market for you, to see if other providers outdo your personal wealth managers, many are only accessible through an intermediary.
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Barclays - Offered through their wealth management arm, their policies are noted for high inner limits on jewellery and the ability to cover multiple properties under a single portfolio management structure
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John Lewis - Their high net worth home insurance (often underwritten by specialist partners) caters to those who require higher than average contents cover. It is a preferred choice for homes that fall just within the HNW bracket but still require the flexibility of bespoke underwriting
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Chubb - highly regarded as the industry gold standard, their high net worth home insurance has a ‘Masterpiece policy’, which means they will pay to rebuild your home to its original specifications even if the cost exceeds the policy limit
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Zurich - Ideal for clients with global estates, Zurich high net worth home insurance offers robust international capabilities. They often incorporate lifestyle covers
such as annual multi-trip travel and identity theft assistance
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Hiscox - Offer a 60-day worldwide coverage policy and specialise in fine art
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AIG (Private Client Group) - Serves ultra-high-net-worth clients with global portfolios
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NFU Mutual (Bespoke) - Excellent for large country estates, thatched roofs, and listed buildings
How we can help
At Money Helpdesk, we work with brokers and advisors who deal exclusively with high net worth mortgages and protection products. Whether you’re looking for a mortgage for a new high value home and the insurance to accompany it, or you're an existing home owner looking to review your high value home insurance policy, they can connect you with the type of financial services that best suit your lifestyle.
Here’s why many of our wealthy clients choose Money Helpdesk for their home cover needs:
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Access to specialist high net worth insurance companies
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Access to bespoke lenders and private banks for high net worth mortgages where needed
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Free initial chat with no obligation to proceed further
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5 star rated advice, guidance and support throughout your home cover journey
If you’d like to compare the best cover options available to you, speak with an experienced high net worth insurance broker today. Get started here.
FAQs
Mid net worth home insurance is designed for households that have outgrown standard policies but do not yet meet the FCA’s £300k income or £3m asset threshold.
Typically, mid net worth policies cater to homes with contents valued between £75,000 and £250,000. While HNW insurance offers fully bespoke underwriting and unlimited building cover, mid net worth policies are "stepped up" versions of standard cover with higher limits and fewer restrictive warranties. Often the top tier of traditional insurance policies are able to cover mid-net worth homes.