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High Value Home Insurance

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  • Cover for art, jewellery and antiques.
  • Any age of property covered.
  • Underwritten by AXA Insurance.
Gerry McNally

Written by

Gerry McNally

Home Insurance Expert

Libby Goodsearles

Reviewed by

Libby Goodsearles

Head of Marketing

Less than 1 minute

Updated: 18 Mar 2024

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.   

To gain a full appreciation for our policy, it’s prudent to read the policy booklet (see the link at the bottom of this page).  

High Risk Items  

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).  

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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

Quick home emergency response times

Have a home emergency, such as electricity failure, faulty locks or vermin infestation? With the 24/7 Home Emergency cover, which we provide as standard, you can typically get an engineer at your home within four hours. And if you’re worried about an uncontrollable leak in your home, we aim to have an emergency plumber to you within two hours.

Extreme weather conditions may extend response time. Policy terms and claim limits apply.

5 star rated buildings cover

Our building insurance has been given the highest rating by independent financial research companies, Defaqto and Moneyfacts.

Repair guarantee

Any buildings work we undertake is guaranteed for 24 months following a claim and any contents repair work we undertake is guaranteed for 12 months.

New for old

Where we replace an item, we will do our best to meet the original specification on a ‘new for old’ basis. If we can’t find an exact replacement, we’ll offer you a suitable alternative, or a full cash settlement.

Legal advice

We provide Legal Protection cover as standard, giving you access to telephone legal advice on any personal legal issue, under the laws of the UK, any European Union country, the Isle of Man, Channel Islands, Switzerland and Norway.

What isn’t included?

Damage caused gradually, or by wear and tear, or by failure to fix a known issue.

Faulty design or poor workmanship.

Damage caused by pets.

The cost of repairing or replacing items following a mechanical or electrical fault.

Lost items.

Recommended by our customers

72% Saved money when they switched to Homeprotect*

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.

Buildings cover

Covers the main structure of your home if you need to rebuild or repair it.

up to £1 million

available online,

eligibility criteria applies

Contents cover

Covering the value of all your possessions in the home, on a new for old basis.

up to £500,000

available online,

subject to eligibility

Alternative accommodation

For you and your pets, in case you can’t live at your home while it’s being repaired after an insured event.

up to £85,000

Home emergency

Covers emergencies that occur in your home like uncontrollable water leaks, electricity failure, faulty locks and vermin infestation. Two levels of cover are available.

up to £500

Family legal protection

Provides a 24/7 legal advice helpline and up to £25,000 cover for claims involving contract disputes and property damage. For a claim to be successful, there must be reasonable prospects (more than a 50% chance) of winning the legal case. Two levels of cover are available.

up to £25,000

Trace and access

Covers the cost of detecting the source of a water or oil leak and repairing any damage caused in the process.

up to £10,000

Outbuildings cover

Covers rebuild or repair of your outbuildings (such as detached garages, greenhouses, sheds and summerhouses).

from £100,000

available online,

subject to eligibility

Liability cover

Liability cover involving accidental death, bodily injury or illness or property damage that you are legally liable to pay.

up to £5 million

Personal possessions

Cover for portable items that you take out of your home, like bags, clothes and sports equipment

Optional

Gadgets, bikes and valuables away from the home

Cover for electronic gadgets (e.g. mobile phones, laptops, tablets etc), bikes (including electrically assisted bikes) and valuables (e.g. watches and jewellery) that you take out of your home.

Optional

Accidental damage

Covers situations when unexpected accidents happen, such as spillages on the carpet, breakages around the house or drilling through hidden pipes. Two levels of cover are available.

Optional

New Customer?

If you’re deciding on whether to buy home insurance with us, you can use our latest policy booklets as a guide.

Existing Customer?

Your Questions Answered

Our contents insurance has been given the highest rating by Moneyfacts, but only a 3-star rating by Defaqto. Our exclusion of accidental loss as an insured loss is the reason why Defaqto rate Homeprotect as 3-star.    

Specifically in terms of suitability for high value contents, the standard product, available online, is designed predominantly with the average customer in mind. So, for high value contents you may well need the policy tailored to your needs – particularly in terms of the sums insured and individual claims limits. Read the policy booklet (from the link above) to familiarise yourself with the standard policy cover and terms.  

With a 5 star rating, our buildings insurance has been given the highest rating by independent financial research companies, Defaqto and Moneyfacts. By Defaqto’s standards, this means it is an excellent product with a comprehensive range of features and benefits.  

That said, the standard product, available online, is designed predominantly with the average home in mind. So, for a high value home you may well need the policy tailored to your needs – particularly in terms of the sums insured and individual claims limits. Read the policy booklet (from the link above) to familiarise yourself with the standard policy cover and terms.  

The recommended course of action is to get an online quote, in the first instance. Then call our sales team and they can refer your quote to our in-house underwriters.  

No. A Homeprotect policy is not a High-Net-Worth policy, as standard. That said, our experienced in-house underwriting team can, depending on your circumstances, tailor the policy to suit the needs of High-Net-Worth individuals, predominantly by increasing sums insured and individual claim limits.  

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Additional Cover Options

Accidental Damage

The Homeprotect policy includes the option of Basic Accidental Damage, which covers electrical home entertainment equipment (such as desktop computers and monitors, DVD and Blu-Ray players, gaming consoles, home cinema systems, sound systems and TVs) up to £1,500 per claim. An upgrade …

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Legal expenses cover

The insurance policy includes Basic Legal Expenses cover which provides up to £25,000 for legal fees you may face for disputes associated with your home; such as ownership of the insured property; and the sale or purchase of the insured property. You can upgrade to Full Legal Expenses cover.

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Home emergency cover

The insurance policy includes Basic Home Emergency cover which provides cover for common home emergencies including burst pipes; failure of the domestic power supply (gas or electricity); and removal of pests or vermin. You can upgrade to Full Home Emergency to include cover for roof …

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