With hard work and success comes the benefits, which in most cases means you are able to build an amazing life, but with this comes some significant assets that present a different insurance requirement.
Standard home insurance falls short, high net worth is designed to provide cover for those with more to protect – valuable homes, contents and valuables, as well as tailoring cover to suit the needs and lifestyle of these individuals.
Let’s explore and break down what high value home insurance is.
High net worth insurance isn’t just a more expensive version of standard home insurance – it’s a completely different approach to protecting your assets and lifestyle.
These bespoke policies are crafted specifically for individuals with high value assets, providing comprehensive cover that goes far beyond what typical insurance offers.
It is designed to protect people with high value homes and possessions – including jewellery, antiques, collectables and fine art.
These people also interact with the world differently from standard home insurance buyers – they travel abroad regulary, have domestic employees such as cleaners, gardeners and nannies.
High net worth insurance is designed to take this lifestyle into account.
Think of it this way: if standard insurance is off-the-rack, high net worth insurance is tailored Savile Row – precisely measured and crafted to your exact specifications.
You might be wondering if you qualify for or need high net worth insurance. While there’s no universal threshold, typically, you should consider it if:
Most people don’t consider themselves to be a high net worth individual, they think those people are just the rich and famous, but high net worth insurance is for more than just them.
Consider this: You own a £1.5 million home in Fulham which you had renovated and interior designed, you own some jewellery and watches worth about £40,000, some fine art you have collected over the years, and some nice wine in the cellar. A standard policy might:
A high net worth policy, however, would be designed specifically to cover you and your lifestyle ensuring every aspect of your lifestyle is properly protected.
A high net worth home insurance policy can offer cover to the majority of your belongings, but one of the key benefits is the flexibility in the cover.
It’s easy to overlook valuable items and possessions that you own. Perhaps there are some family heirlooms or antiques furniture you have inherited, expensive handbags that have been bought over the years or jewellery that can quickly accumulate in value.
In our experience, art, antiques, jewellery, clothing, and personal items are often under-insured, likely due to being collected over time. Unfortunately, many people don’t realise that standard insurance policies may not offer sufficient coverage for these valuable possessions.
High net worth home insurance can cover you for:
Why choose high net worth insurance over standard coverage?
Buying high net worth insurance is restricted to access through insurance brokers which involves lengthy meetings and complicated paperwork.
At rivr we are trying to change this, your time is precious, we understand your needs and the level of protection that you require but are respectful of your time and don’t want to be wasting it.
At rivr, we’ve revolutionised how high net worth insurance is bought:
We aim to offer the best level of cover for your needs
To get started with your high net worth insurance quote, have handy:
While requirements vary, typically you might qualify if:
Look for insurers who offer:
| Feature | Standard insurance | High net worth insurance |
| Coverage limits | Often capped at £1,000-£2,000 per item | High single-item limits (£25,000+) |
| Claims service | General claims handlers | Dedicated high net worth experts |
| Policy flexibility | Limited customisation | Highly tailored to your needs |
| Worldwide coverage | Often limited or excluded | Typically included |
Making the decision as to whether to invest in high net worth home insurance depends on your personal circumstances and needs.
Some people value the comfort, peace of mind and confidence that high net worth insurance brings, others just see insurance as a nuisance and to do not see the benefit of it.
In our experience those individuals do not perhaps understand the full benefits that having it in place, and the risks that they face by having inadequate insurance in place.
Before deciding what to do, be sure to do all of your research. We will always be more than happy to have a conversation to explain the benefits and to see whether rivr high net worth home insurance is right for you.
Email us on hello@rivrcover.com
If you have decided that you want to buy then you can start your insurance application here.
It only takes 5 minutes.
Published on
October 9, 2024
Need a bit more explanation? Then head to our FAQs page where you’ll find loads of answers to our most commonly asked questions.
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