The answer is yes, you do need a high net worth insurance broker.

Technology is marvellous. It makes so many things so much easier – like buying insurance. Tap in a bit of information, review the quotation, and presto!, you’re covered. But now that it’s so easy to get coverage over the internet, plenty of people believe they no longer need an insurance broker for their high value home and contents cover. Unfortunately that opinion ignores the incredibly valuable services that brokers deliver to the unlucky people who have a household insurance claim.

Is it worth using a broker for high value home insurance?

Yes! Online services that promise to find the lowest building and contents insurance price might do a good job of pointing buyers to the cheapest cover, but cheapest is rarely best for high value properties. Buying high worth home and contents insurance from an internet comparison site, or even direct from a reputable insurer, doesn’t give you a personal advocate when you need one most: when it comes time to make a claim. It’s then that your high net worth insurance broker can make an enormous difference to the outcome of your claim. They deal with your insurer on your behalf. They report and explain the loss. They pay the claim while the insurer’s cogs are still turning. They’re on your side.  

What’s the value of an insurance broker for high value properties?

The acceptance rate for domestic property claims in the UK fell during the year before lockdown, to just 81%. That means, according to the Association of British Insurers, that one in five household insurance claims is rejected. But with a home insurance broker on your side, you gain a powerful ally who will increase the chance of your valid claim being accepted and paid in full. 

Comparison and marketplace sites don’t help you get the best cover for high value contents, or even the right cover for your needs, just the cheapest. As the old saying goes, you get what you pay for. You will get the phone number of the person who may – one in five times – decide not to pay your claim. With a home insurance broker, you get a team of dedicated household claims professionals that works diligently on your behalf. They discuss each and every claim with their opposite at the insurance company. It’s a bit like going to court with a hot-shot barrister, instead of mounting your own defence.

A high net worth insurance broker will also ensure that you get the best home and contents value cover, rather than the cheapest. The difference is subtle, but important. Cheap contents cover typically has lots of exclusions and limits. The best high worth contents value cover gives you all the insurance you need for your home and its contents (including the jewellery and gadgets), for the building itself (and the shed and the bikes), and even for your valuables when you’ve taken them out of the house.

So, can I buy the best high value home and contents insurance online?

Most online insurance web sites sell average-Joe insurance policies. They’re made to cover the typical family. The average contents claim is about £3,800, most often caused by a leaky kitchen appliance. But many of us have dozens of single items in our homes – from antiques to televisions – which are worth far more than that, just on their own. That means the home and contents cover you can buy from price-comparison websites and TV-ad companies is inadequate. It simply won’t do the trick.

Happily, there is now an alternative with the launch of the first online broker solution. You can now go online and buy high-quality, responsive coverage that covers your valuables properly, and includes market-leading claims advocacy services provided by one of the world’s leading high net worth insurance brokers. The peace of mind that comes with knowing you’re properly covered is only a few clicks away. Insurance from Miller Private Clients brings the comfort of entrusting your valuables to a reputable insurance company, and the confidence that you have a true professional on your side.

It’s available 24/7, so visit us now at Miller Private Clients for an instant quote.