What are the Options for House Insurance Cover for Expensive Houses?
Finding an adequate house insurance policy to cover your luxury house and its contents is not always easy. You want to make sure that both your house and your valuables are covered and fully protected against environmental hazards, theft and fire. A regular house insurance policy may not provide you with the amount of cover you need for expensive jewellery or antiques. Instead, you may need to consider high value contents insurance.
What is High Value Insurance?
Specialised high value house insurance companies typically offer buildings insurance for houses that have a rebuild value at or above £350,000. As well as providing cover against storms, floods and fires, some specialised companies also offer accidental damage cover as part of the regular policy. Cover may also be paid out for any restoration work you should need and the loss in value that may occur as the result of an incident, accidental or otherwise.
Contents insurance may also be offered separately for those who have
possessions with a total value at or above £100,000. This is an
opportunity for houseowners to insure a variety of expensive
possessions such as jewellery, fine arts and antiques, and again,
accidental damage is typically included in the standard policy for
this type of insurance. Most house insurance companies offer to
extend your contents insurance policy to make it valid wherever you
are in the world.
Is There a Difference between Companies?
Because some people who purchase high value house insurance may lead a more lavish lifestyle than others, some insurance companies pride themselves on the extra levels of customer service they can offer. These types of policies are typically made to suit the individual customerís needs and take into account the amount of protection they desire, their lifestyle and other personal requirements as they arise.
While some people buy house
insurance cover for their high value houses as a primary residence,
some companies offer you the option to purchase cover for a second
house, such as one you would go to on holiday. This location may be a
buy-to-let property, a weekend apartment, a city residence or a
pied- ŗ-terre. No matter what the use of your second house, itís
important that you research the insurance companyís policy and
additional cover options should you need cover for an additional
high value residence.
Copyright Doreen Waverley highvaluehouseinsurance.org.uk 2011