Unlocking the full potential of your home: The difference between standard and high value home insurance.

When it comes to protecting your home, not all insurance policies are created equal. For owners of high-value homes, standard household policies often fall short in providing the necessary coverage. This is where High Value Home insurance comes into play, offering a range of benefits that ensure your valuable assets are adequately protected.

Higher sums insured

Standard household policies can usually only accommodate a maximum sum on buildings, contents and jewellery leaving your high-value home underinsured. High Value Home Insurance on the other hand can accommodate higher sums ensuring the clients property and possessions are fully covered.

Coverage for non-standard and listed properties

Insuring non-standard constructions or listed properties can often be challenging with standard insurance, which may not accommodate these features. Home Value Home insurance is designed to cover such properties, despite their construction or special characteristics. But as with most insurance policies, it is always advisable to discuss your individual circumstances with your broker.

Flexibility with additional properties and travel cover

One of the main features of High Value Homes policies is their flexibility. High Value Home policies can often add additional properties both in the UK and abroad, offering a more seamless coverage for multiple homes. Many High Value Home policies also offer travel cover as standard , offering protection and peace of mind wherever you go.

Worldwide coverage for contents and jewellery

High Value Homes policies cover contents and jewellery on a worldwide basis unlike standard policies which typically restrict to items at home or a small amount outside the house. If a standard home policy covers items worldwide, this is usually for a max of 60 days in one policy period whereas High Value Home does not have these restrictions.

Warranty free policies

A unique benefit of High Value Home insurance is that most are warranty free. This means that if you forget to set your intruder alarm or lock your front door, you won’t be penalised in the event of a claim. Standard policies often have stricter requirements which may lead to denied claims.

Inclusion of legal expenses and home emergency cover

Legal expenses and home emergency cover are typically included as standard in High Value Home policies, whereas this is an optional extra with standard policies.

Simplified claims process

When it comes to making a claim, High Value Homes policies offer a streamlined process. Clients can often choose their own contractors and are usually only required to provide one quote, with the insurer taking a “no quibble” approach to covered claims. In contrast, standard policies usually require multiple quotes and often opt for the cheapest option, which can complicate and delay the claims process.

Broker availability and expert

High Value Home policies are generally available only through brokers, ensuring that clients receive expert advice and personalised service. At Macbeth we have the added benefit of a Claims Team who can guide you through the claims process to make things as seamless as possible. This level of service is invaluable in managing high-value assets and navigating complex insurance needs. 

“Having a broker to assist you can prove invaluable. We’ll provide specialist advice to make sure you get the right cover, and explain requirements and endorsements in a clear and concise way. Should the worst happen and you need to make a claim, we’ll offer a supportive and comprehensive in-house service.” Carl Sharp, Client Director

In summary High Value Home Insurance policies offer a range of benefits that standard policies simply cannot match. From higher sums insured and coverage for unique properties to worldwide protection and a robust claims process, High Value Home insurance provides comprehensive and hassle-free coverage for high-value homes. If you own a high-value property, consider High Value Home insurance to ensure your assets are fully protected. 

Interested in finding out more about High Value Home Insurance policies?

Chat to Carl, Nicola, Rachael , Chris or Mandy to talk high-value home insurance and reassurance

Find out more about our High Value Home and Contents Insurance