What to look for in a new high net worth broker

Most high net worth policyholders prefer to use a broker to handle their insurance requirements. To get the best value and most appropriate insurance to protect your home and possessions, your choice of broker is important. The broker should be a client’s one point of contact for all insurance requirements.

An insurance broker will help identify and present your risks, suggest improvements, obtain bespoke quotes from insurance companies and assist you in making claims.

Ask questions to ensure the broker has enough experience in high value home insurance, such as:

  • Will the broker provide help and support when you make a claim?
  • Can the broker find the most appropriate cover for your needs?
  • What experience does the broker have in this area?
  • What recommendations or references can the broker offer that show they can help you?
  • Will the broker help you obtain valuations or advise you on improving your security?
  • Does the broker provide you with an emergency out of office hour’s telephone number?

A specialist high net worth broker will take time to talk with you and identify your needs. They will then create a bespoke presentation of your risk and send to insurers. If they understand your risk they are more likely to know the most relevant insurers to approach. The more time a broker spends talking with you, the more accurate, truthful and competitive the quotation will be and this is why a long standing relationship is suggested.

Macbeth Premier Clients have specialised in high value home insurance for over 15 years and have a wealth of experience. Macbeth are a Chartered insurance broker tabling us within the top 5% of brokers within the UK and we pride ourselves on professionalism. We will provide you with an exceptional level of personal service and a dedicated account manager will handle your policy from inception to renewal including a complete claim service so you can just relax and leave matters to us.

Changing insurance brokers is a simple process and provides you with peace of mind that you are receiving the best deal, both in terms of cover and price. If you would like to obtain a quotation from Macbeth, please telephone Carl Sharp Cert CII, on 0118 9165 487 or email carl.sharp@macbeths.co.uk

When did you last review your contents sum insured?

Statistics show that up to 70% of UK homeowners are underestimating the value of their personal possessions by as much as 30%.

Most people are reluctant to increase their contents cover, thinking the premium will shoot up. But the extra cost is often less than you’d expect – and well worth it if it means you’re properly protected. It also ensures that your claims are paid in full without deduction.

It is important to remember that you insure for the full replacement cost of your contents and not the market value at the time of a loss. Remember to include items such as CD’s, clothing, sportswear & sport equipment such as golf clubs or skiing gear. Surprisingly, the average sum insured for clothing in high net worth homes is £20,000.

Our asset calculator has been designed to help you calculate your sums insured.

Besides listing what you own, it’s also good to do the following:

*   Take photographs of any valuable or unique possessions *   Keep your purchase receipts for valuable items *   Obtain valuations for expensive items of jewellery, watches and other precious possessions such as fine art and antiques

It may seem like a lot of work, but you’ll be happy to have this gold mine of information to assist your insurer in giving you protection against loss of your possessions.

Macbeth Premier Clients have specialised in high value home insurance for over 15 years and have a wealth of experience. We will provide you with an exceptional level of personal service and a dedicated account manager will handle your policy from inception to renewal including a complete claim service so you can just relax and leave matters to us.

Changing insurance brokers is a simple process and provides you with peace of mind that you are receiving the best deal, both in terms of cover and price. If you would like to obtain a quotation from Macbeth, please telephone Carl Sharp on 0118 9165487 or email carl.sharp@macbeths.co.uk

*Information correct as of May 1st 2016

Author: James | October 8th, 2010

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Get in touch:   Reading: 0118 916 5480   London: 020 7036 8767   info@macbeths.co.uk