Diamonds are formed beneath the surface of the earth as a result of intense pressure. Beneath the surface of the insurance industry, pressure is also building. Big names such as Dual, Amlin and Beazley have been exiting the high net worth market. As a result, many high-value households are experiencing increased costs when it comes to their renewals.
In an increasingly complex insurance industry an independent insurance broker, such as John Morgan Partnership, offers more than just a financial saving. Our experienced advisors provide invaluable and impartial advice for high net worth individuals seeking protection for their household.
Most insurers can cover properties up to £1,000,000, alongside £75,000 worth of contents. JMP work with A-rated insurers to provide cover for clients with more complex properties and considerable collections, including art and antiques, jewellery and watches. A financial or credit rating is an independent evaluation of an insurers ability to meet their financial commitments such as paying claims. Our A-rated partners are considered to have an excellent ability to meet on-going insurance obligations, giving our clients complete peace of mind.
JMP can arrange a bespoke policy with the best high-value household insurer for you. A member of our team will personally appraise all your current insurance arrangements, free of charge, alongside your lifestyle requirements. The property market remains an important investment opportunity in both the UK and abroad. Our insurers can add additional homes and residential to-let properties to your policy. For busy business owners and families with a global footprint, a single policy and dedicated point of contact at JMP can leave you time to get on with life.
Many properties that JMP insure are listed. If you are lucky enough to own a historical building you have an additional responsibility to reinstate your property in the event of unintentional damage. If your insurance company is not aware of the historical significance of the property, you may find yourself without the correct cover. This will leave you personally responsible for the costs and inconvenience of returning your property back to its original condition using specialist contractors. High-value household insurers have dedicated specialist claims teams and loss adjusters to manage and facilitate this in the unfortunate event of a claim.
If you decide to renovate your home, you must notify your insurer. Household insurers usually exclude cover when a property is undergoing renovation. A high-value policy will allow works up to £50,000 without notification or limiting your cover. For more significant changes, your JMP advisor can advise you on what insurance you may need and make arrangements on your behalf.
When leading a busy lifestyle, it’s important to have the right cover in place for your belongings whether they are in your home or travelling with you. Many household insurers will not cover your contents outside of your home. However, a high-value household policy will cover you worldwide, this includes your most valuable items.
We make a point of visiting all our private clients at home to ensure we fully understand their needs and requirements. To schedule an appointment with one of our qualified advisors, please contact us at your convenience.