Looking for high-net-worth property insurance that doesn’t cost the earth? Let Fortify Insurance compare our markets to find you exceptional cover for a competitive premium.
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High-net-worth home insurance is a specialist policy for people with expensive properties, typically those valued at £1m+, and possessions worth over £100,000. It is designed to avoid the policy limits and restrictive clauses of standard home insurance, and it can insure individual items with a value of £25,000 or more.
High-net-worth house insurance can not only offer higher policy limits on properties and possessions, but it can also cover risks that standard policies can’t. Cover can typically offer:
While a specialist broker can find cover for most eventualities, there are some things that can’t be covered, including:
Anyone with a property with a rebuild valuation of over £1,000,000 and contents valued at over £100,000 should consider getting a high-net-worth house insurance quote. This is because standard home insurance won’t provide sufficient protection and it has exclusions that make it unsuitable for owners of these types of property and possessions. People who should have cover include:
High-net-worth home insurance costs between £2,000 and £5,000 per year for a luxury dwelling. Ultra-high-net-worth properties can cost more than £20,000 to insure. Premiums will be decided by things like the property’s value, the value of individual items, what those items are, its location, level of security, and whether there are periods of unoccupancy.
As well as higher policy limits, generous individual item limits, and the removal of policy exclusions, a good high-net-worth home insurance policy should offer:
A successful property investor and landlord insurance client of ours, had a bespoke, smart home built in a village outside of Peterborough. As well as providing a home for the family, the property would house his collection of modern British art and a fine wine collection. These had previously been held in specialist storage facilities, but the move gave him the space to have them at home.
When he told us of the move, we advised him that his current policy limits were likely to be too low, and the specific, expensive items wouldn’t be covered, which could cause problems in the event of a claim.
Working with the client, we identified several potential risks that needed addressing:
The client didn’t want to complicate his cover, preferring to have one policy that would provide the protection he required.
We arranged a high-net-worth home insurance policy for him. The art was insured using current valuations, reducing the danger of individual pieces being underinsured. The wine was protected under specialist arrangements via an insurer that recognised its collectable value. The policy also included employers’ liability insurance so he’d be protected should any claims be made by his staff.
‘A professional firm that managed to organise and set up insurance without all the stress. Communication was a huge factor as we were kept in the loop the entire time. Would highly recommend.’ Anthony Parker, 5-Star Google Review
Getting a quote is easy. You can call us on 01733 301520 or request your high-net-worth home insurance quote today. Being independent, we can compare the market to find you the cover you’ll need for a premium you’ll like.
High-net-worth home insurance is a specialist policy for people with expensive properties, typically those valued at £1m+, and possessions worth over £100,000. It is designed to avoid the policy limits and restrictive clauses of standard home insurance by giving comprehensive all-risks protection and can insure individual items with a value of £25,000 or more.
People with homes worth £1m or more and/or contents worth over £100,000 should consider getting high-net-worth house insurance. It’s particularly important if you have costly individual items – be it art, wine, or jewellery – that need insuring
High-net-worth policies offer higher buildings, contents and single-item limits. They may also include wider accidental damage protection, worldwide cover and access to specialist claims handlers, surveyors, restorers and replacement services. Policies can cover multiple homes and other valuable assets under one policy
It can cover everything from buildings and permanent fixtures, fine art, antiques and collectables, to wine collections, cyber security threats, alternative accommodation and liability issues
You can go room by room, but for high-net-worth properties it’s wiser to get expert valuations. This is particularly important for valuing things like fine wine, art, and antiques, the value of which is prone to significant fluctuations. The Association of British Insurers recommends insuring contents for their new replacement cost rather than their current second-hand value
Yes, most insurers will ask for specific items to be noted separately. The insurer may require a description, valuation, photograph, proof of purchase or details of the item’s provenance
Yes, specialist policies can cover fine art and antiques against risks such as fire, theft and accidental damage. Some policies may also provide cover for newly acquired pieces, restoration costs, depreciation following damage or the loss of one item from a pair or set
Yes, it can provide worldwide cover for jewellery, watches and other personal possessions taken away from the insured property. Insurers may require high-value items to be stored in an approved safe when they are not being worn. Some may also specify minimum alarm, lock or valuation requirements
No. While accidental damage is often available/included, not all policies offer it. Depending on the policy wording, it could cover incidents such as spilling wine on an expensive carpet, or chipping a valuable vase, but it’s best to check with your broker
Some high-net-worth policies can include liability protection relating to domestic employees such as housekeepers, gardeners, nannies, chauffeurs or estate staff
If the property is left empty for a prolonged period – typically between 30 and 60 days – then you’ll need unoccupied property insurance as part of the policy
Not as part of home insurance. They can be covered on a specialist high-net-worth motor insurance policy
Security requirements depend on the property, its location and the value of the possessions being insured. An insurer may insist on burglar and fire alarms, CCTV, security gates, water-leak detection and automatic shut-off systems, safes, high-quality door and window locks
The cost depends on the property’s rebuilding value, location, construction, security, claims history and occupancy. The value and type of contents, art, jewellery and other collections will also influence the premium. Premiums typically start at around £2,500 and can rise to £20,000 plus
