Prestige Home Insurance

Prestige home insurance is designed to be for houses that are over $2,000,000 in building value and as such have higher limits under their additional benefits sections. For example some benefits that would typically have higher limits are things like jewellery, works of art, higher limits for emergency call outs and repairs.

This isn’t something specifically required by the insurer however, it is best practice to ensure that your property is insured for its realistic replacement value. The best way to do this is by having valuations completed regularly. We typically only recommend this during inflationary periods or every 3 years to ensure that you are allowing for correct building material values and trade costs.

Yes, this is a standard condition on most home insurance policies. However, under prestige home insurance policies the limits are once again higher to allow for a higher level of living standard that you are used to.

Yes, portable cover can be added and sometimes even included for no extra premium on their top level of cover. It’s important to assess your risk tolerance and what items would typically need to be covered away from the home to ensure that you are covered appropriately.

Yes, catastrophe allowances are usually taken into consideration when catastrophic events occur causing delays and increased costs.

Wear and tear is considerable general upkeep of a property and as such isn’t typically covered. This is another good reason why buildings should be inspected and valued regularly to prevent issues like this occurring.

A prestige home insurance policy will typically offer worldwide cover on jewellery items and general contents while you are away from home.

The insurers offer free market appraisals for high valued homes to ensure that they are insured correctly for a true replacement value.

You can however, when you consider the additional benefits and higher limits that are typically included on a standard policy you will end up losing out overall.