FAQs

Common myths and Frequently Asked Questions

There are many misconceptions about High Value Home Insurance. Hopefully we can bust the myths and present the facts clearly below.

The small niche area of Nigh Net Worth insurance is built on relationships. A good account handler from a smaller broker is likely to achieve a better result than a poor account handler from a larger broker.
A Bank may well only use one market to insure their clients. A High Net Worth Insurance Broker will have multiple markets that specialise in high value homes, contents and cars.
A High Net Worth Broker will have multiple markets that specialise in high value homes, contents and cars. A good Broker will work for you should a claim arise and fight your corner.
Many standard policies apply the average clause to their policies, meaning that any claim settlement will be made less the same percentage of under insurance. Worst case scenario, your policy could be null and void. A good broker can guide you through the pitfalls of under insurance and can pair you with an Insurer that offers free appraisals.
Quite often using a High Net Worth Insurance Broker can reduce the cost of your policy, whilst also achieving the broadest cover in the market. Direct policies are not necessarily the best value.

Richard McLeod
Director at McLeod Risk Services LLP

Richard McLeod LinkedIn profile

Top tip

Using an independent bespoke insurance broker such as McLeod Insurance, can reduce the cost of your policy, whilst also achieving the broadest cover in the market.

Direct policies are NOT necessarily the best value.