High Value Home Insurance

Written by

Gerry McNally

Home Insurance Expert

Reviewed by

Libby Goodsearles

Head of Marketing

do i need high value home insurance?

Like most home insurance policies, a Homeprotect policy comes with certain claim limits as standard. These are set at a level which is normally fine for the average customer, but if you have above average amounts of belongings, or an above average cost of property rebuild, then you may need to have your policy tailored, by our expert underwriters, to suit your needs. Read the information on this page to help decide whether our standard policy suits your needs, or whether you need some customisations.  

high value buildings insurance

A standard Homeprotect policy is fine for the average UK house with an average rebuild cost.   

If, however, you have a significantly higher rebuild cost – £1 million or more, or if you have expensive outbuildings, then it would be best to speak to our underwriters, who may be able to provide a tailored quote.    

We can, subject to underwriting review, cover houses with a rebuild of up to £3 million, although it may be more appropriate to insure properties of this value via a high-net-worth provider.   

The quickest way to get the tailored high value home insurance quote you need is to create a standard quote online, via this website, then call us and ask for the quote to be reviewed and tailored by our underwriting team.  

high value contents insurance

A standard Homeprotect policy is typically fine for most customers.  

If, however, the value of your contents exceeds our standard claim limits, you may need some customisations. It’s worth paying close attention to our standard claim limits to get a better idea of whether or not your policy will require these customisations. Key standard claim limits to consider are as follows:  

Contents Sum Insured  

We can provide up to £500,000 of cover for your contents, via a standard online quote, although this does depend on your circumstances. This covers your contents inside your home, on a new for old basis, against a whole host of insured losses. If you need more than this, then call us and ask for the quote to be reviewed and tailored by our underwriting team.  

Consider though, some of the limitations with a Homeprotect contents insurance policy, which will apply no matter your contents sum insured. For instance, we don’t currently cover accidental loss. So, if you have particularly high value contents, just be aware that you’ll be covered for theft and damage (in the event of an insured loss), but not loss.  

In addition, consider our approach to matching sets and suites. If any individual item is damaged beyond repair (due to an insured loss), we’ll pay to have this item replaced, but we’ll only make a 50% contribution towards the cost of replacing the undamaged items.   

High Risk Items  

To gain a full appreciation for our policy, it’s prudent to read the policy booklet.  

We classify any of the following items as ‘high risk’. In other words, they are at an increased risk of theft or damage.  

• Clocks  
• Coin collections  
• Furs  
• Gold, silver and other precious metals (including plated items)  
• Guns  
• Jewellery and watches  
• Medals  
• Medical equipment (including hearing aids)  
• Ride on or robotic lawnmowers  
• Stamp collections  
• Wheelchairs or mobility scooters  
• Works of art  

As standard, a Homeprotect policy provides up to £5,000 in total for High Risk Items, as long as each item is individually (or as part of a collection) worth less than £1,500. If this aggregate limit is insufficient, or if you have items worth £1,500 or more, then you can either choose to specify each item individually (a specified item is not included in the £5,000 aggregate limit) or you can speak to our underwriters and they can consider increasing both the aggregate limit (sometimes substantially) and the individual item limits.   

Possessions in Outbuildings  

As standard we limit claims on possessions in outbuildings to £1,500. If you need more cover then you can either choose to specify items individually (specified items are covered separately and not included in the £1,500 limit) or you can speak to our underwriters, and they can consider increasing the limit (they can consider up to £50,000).  

Possessions in the Open  

As standard we limit claims on possessions in the open (e.g. in your garden) to £5,000 (with a £1,500 limit on individual items). As with possessions in outbuildings, if you need more cover then you can either choose to specify items individually (specified items are covered separately and not included in the £5,000 limit) or you can speak to our underwriters, and they can consider increasing the limit (they can consider up to £50,000).  

What’s covered by BUILDINGS & contents insurance?

Home insurance provides financial protection if you need to repair your home or replace your belongings after they’ve been stolen, damaged or destroyed.  

It comes in two parts: buildings insurance (cover against damage to the property itself) and contents insurance (for damaged or stolen items within the home). These can be combined or bought separately, so the first step is deciding which option is better for you. Please note, this is not a High Net Worth insurance policy as standard, although we can, subject to review and individual circumstances, tailor the cover to satisfy the needs of customers with high value property and high value contents.   

What we offer

What isn’t included?

buildings & Contents Insurance Cover Levels

Our home insurance is designed to protect your home against insured events such as fire, storm, flood, escape of water, theft, malicious damage, subsidence, landslip or heave.