Insurance is a confusing place, and it is hard to unpick and understand the difference between policies. Selecting the right level of cover for your home is crucial in making sure your home and your belongings are properly protected.
At a high level, standard home insurance is right for the vast majority of the UK’s population. The policies are designed and built for the average UK home and household.
If you perhaps do not fit the mould of the average UK household, then the level of cover provided might not be appropriate for you.
This guide is designed to break down some of the differences between High-Value Home Insurance, which is sometimes called Mid Net Worth Home Insurance, and Standard Home Insurance.
Standard home insurance offers foundational coverage for a broad spectrum of homes. It typically includes:
While standard policies provide essential protection, they may have limitations on the amount of cover and have limiting inner limits which can be hard to spot in the policy terms and conditions. They also exclude certain high-value items or scenarios, making them less suitable for those with higher-value homes or more expensive possessions.
Mid-net worth home insurance bridges the gap, offering enhanced coverage tailored to the needs of homeowners with assets that exceed the limitations of standard policies but may not require the extensive coverage designed for High Net Worth individuals. Features include:
Overall, mid-net worth home insurance offers greater coverage with bigger limits and more benefits and protection in the event of a claim.
Choosing the right insurance policy depends on your specific needs:
For homeowners who find themselves between the coverage provided by standard and high-value insurance policies, mid-net worth home insurance offers a tailored solution that ensures comprehensive protection.
Mid-net worth home insurance is not widely available online; the typical route to purchase it is through a traditional insurance broker.
Rivr offers this level of cover and more, all online, allowing you to purchase and secure mid-net worth home insurance in minutes.
Published on
April 29, 2023
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