High-net worth insurance

A guide to insurance for high-net worth individuals


What is high-net worth insurance?

High-value insurance protects high-value assets - and you don't have to be a millionaire to need the enhanced cover that it offers. Lots of us have possessions in our homes or parked on our driveways that are classed as high-value. Often, people need high-value insurance without realising it.

Perhaps you’ve recently treated yourself to an expensive item of jewellery, or you’ve brought your dream home. High-value insurance cover is available to anyone who owns high-value assets and would like to protect them.

High-value insurance can cover houses, cars, jewellery, art, antiques, and other valuable possessions.

Do I need high-value insurance?

For insurance policies brokered through Wesleyan Financial Services, a home valued at £500,000 or more is considered a high-value asset.

If you’re not sure of your home’s value, websites like Zoopla and Rightmove can help to provide an estimate.

Insuring other high-value assets

New and classic cars can also be deemed as high-value assets for insurance purposes. A car valued at more than £60,000 can be insured by a specialist high-value policy. If you’re unsure of the value of your vehicle, it may be worth having it checked by a specialist.

High-value assets can also include jewellery, fine art, and antiques. While we do not broker cover specifically for these items, they can be included as a high-value item on home contents cover. The limit for a single item can vary, so it’s worth mentioning this to your insurer when you purchase a policy.

High-net worth insurance products

High-value home insurance

Depending on the type of policy you take out, high-value home insurance typically provides cover for a property worth in excess of £500,000, with contents of £75,000 or more.

High-value home and contents insurance has several benefits that go beyond the cover provided via standard home insurance policies.

In addition to the benefits of standard home cover, a high-value policy may include:

  • Cover for collectables: Whether you collect fine art, antiques or jewellery, high-value home insurance protects the belongings you value most.
  • Alternative accommodation: If you’re unable to live in your home due to a flood, fire, or other insured event, alternative accommodation will be provided for your whole household, including pets.
  • Matching pairs and sets: If you damage an item that’s part of a set, such as a pair of earrings or a matching set of bangles, and a replacement can’t be found, the complete set will be replaced or compensated for.
  • Worldwide cover: For those who love to travel, worldwide cover allows you to take your belongings overseas, safe in the knowledge that they’re covered for loss, damage, or theft.

High-value car insurance

High-value car insurance differs from standard policies because it will usually cover an agreed amount for the vehicle, rather than the current market value which can depreciate each year. This offers greater peace of mind for high-value car owners.

High-value car insurance will also generally provide:

  • European cover: 90 days of European cover included as standard, with the option to extend cover for longer.
  • Courtesy car with a similar specification: Your courtesy vehicle will be of similar specification to your current car.
  • Multi-vehicle cover: You can insure all your cars under one policy. This is perfect for those who love to collect specialist sports or classic cars.

As a broker, Wesleyan Financial Services offers both high-value home insurance and high-value car insurance.

What are the benefits of using a high-net worth insurance broker?

While comparison websites might seem like the best option for securing a good buy, they’re not always the most suitable for meeting the needs of high net worth individuals.

High street policies can be full of hidden terms that you may not become aware of until you try to make a claim. You also run the risk of being underinsured for your most treasured possessions.

An experienced high-net worth insurance broker will:

  • Save you time: Who wants to be trawling through multiple websites to find the right policy?
  • Be thorough: Take time to understand your exact cover requirements to check you are not underinsured.
  • Find the right policy for your needs: You can be sure that the policy sourced for you will provide the right level of cover.

At Wesleyan Financial Services our personalised advice-based approach ensures our customers always receive the right cover for their needs from our panel of leading insurers.

Ready to get insured?

High-value home insurance

Ensure your home insurance policy meets your needs with high-value home insurance.

High-value car insurance

Protect your pride and joy for many more miles to come, with a high-value car insurance policy.