Buildings/Contents insurance with high value items.

gmgohara

Hi

I am looking for some advice / guidance in respect of Buildings/Contents insurance with some high value items

Am looking for a quote to cover some paintings/art (Total value of £20K / no single item over £3K in value)

Any advice as to who to obtain a quote from appreciated

dacouch

Hiscox or Chubb or Oak

Mikeyorks

Hiscox is the obvious one.

No need to list individual valuable items of under £15,000 in value, or items, pairs and sets of fine art of under £25,000 in value

http://www.hiscox.co.uk/personal-and-home/home-insurance/high-value-home-insurance/

M&S offer cover up to £4k per (unspecified) item ..... but you'll need to convince yourself it's not a 'collection' (there's a definition somewhere in the policy doc) if you want to avoid declaring each item.

dacouch

The advantage of an Insurer who specialises in the high end of the market over a normal Insurer eg M&S are they include cover for deteriation of value in works of art. For instance if one of your paintings had the canvas pierced and you claimed on the Insurance. A normal Insurer would just pay for the repair of the picture. A high end Insurer would pay for the repair (They will even be able to recommend a specialist to carry out the work) but they would also compensate you if the painting had devalued due to the repair work.

gmgohara

Can anyone recommend a suitable broker to get a quote for Chubb / Oak products ??

dogbot

Do they have a list on their websites? You can also look on biba's website or just search for High Net Worth insurance broker via google. Chubb might be a bit more expensive than the others for your needs since the values you are looking to insure are, in the High Net Worth market, not actualy that high - Chubb go for the super rich.

Home and legacy are a High net worth broker with their own schemes so also worth a look. John Lewis do a high net worth policy too - underwritten by Sterling who are another smaller insurer like Oak.
http://www.johnlewis-insurance.com/homepage/home-insurance/specialist-home-insurance.html