One Broker For Multiple Assets

We can all appreciate the complications surrounding the upkeep of a property you are living in, let alone having multiple properties across the world where you can only visit one at a time. The responsibility that comes with owning private homes worldwide is a difficult task to manage in itself, let alone arranging insurance for these properties.

This is where a High Net Worth insurance broker is helpful. The opportunity for one policy for all the properties means one premium and one renewal date to cover all of your properties and the contents within. Not to mention the flexibility of these policies; being able to add newly acquired Fine Art or Jewellery that can be kept separate from the contents. Whilst on the topic, we also arrange for Fine art or Jewellery to be covered on a standalone basis, in its own policy away from the household but that is another article in itself!

A market leading household insurance policy includes high levels of cover across the following examples:

• Extended Replacement Cost
• Buying a new property or Multi-Location properties
• Unlimited Trace and Access
• Alternative Accommodation Cover
  

One of the main points of using an insurance broker to help manage your assets, aside from experience and guidance, is convenience. You do not have to worry about organising the insurance each year, you avoid the struggle of obtaining market leading cover and, most importantly, you know your broker is acting on your behalf, with your best interest in mind.

Think of it this way, if you have a trusted property agent you have used numerous times to help secure property in the UK and you then wish to begin purchasing property abroad, maybe the South of France to start. Would you go to the hassle to find a new property agent in the area where you want to buy? No, you would most likely use the agent you have always used. They understand your requirements and will act with your best interest in mind. It is the same for an insurance broker, why would you not want one person who you can call to help with insurance across all of your assets?

We have touched on this in a previous article but a dedicated insurance broker is one of the most important contacts you can have in your go-to list, either as a private client of a family office who act on behalf of a client. The majority of these contacts help to make the sourcing and purchase of assets easier, which is very important but an insurance broker? We are the ones who make sure that you are protecting all of these assets with the best possible cover available in the market. The time and money spent of acquiring these assets should not cease when it comes to insuring them, whether it is another piece of art for your collection and a home to build your property portfolio.

This is an example; You purchase a main home for £10 million but you also own a holiday home with a market value of £5 million so, overall you have £15 million of property and it may cost you roughly £7,500 each year to fully protect your properties. Look at it in numbers £7,500 for £15,000,000. If you are able to and happy to purchase some of the most expensive properties on the market then it should be equally important to you to ensure that you protect this property with the best insurance around. Fortunately, we are very lucky with our clients, both existing and new, in that they understand that their precious assets require market leading cover and they trust us to provide them with this, which of course, we do.

If you require help with your high value asset insurance whether that be property, yachts or kidnap and ransom please contact us so we can help you obtain market leading cover.

Charlie Firth