What Qualifies as High Value Contents Insurance?
It is surprising how often people don’t truly understand the limits of their home insurance policies. Standard content insurers usually have a ‘single item limit‘. This dictates how much they will pay if something is to happen to one of your personal possessions.
This limit can be as low as £1500, so if you own any jewellery or fine art it is likely that you will need specialist home or contents insurance. Standard insurance policies can also have considerably low maximum claim limits on all valuables. This means that there could be a limit to your overall insurance payout, despite the value of the items claimed.
Not considering these restrictions when looking at insurance policies can have negative consequences if anything is to happen to your valuable items. This is especially relevant when insuring private clients. The reason for this is that the likelihood of finding high value items that exceed the standard insurance cost of replacement is very high.