Your home is likely filled with priceless or expensive items that you hold close to your heart. From family heirlooms to your mobile phone, there’s a lot that you may want to cover from damage or theft. Last year, there were roughly 250,000 reports of burglary in England and Wales, which show just how much of a problem it can be and how necessary finding the right cover is.
However, with so many different insurances available, it can sometimes feel like a headache selecting the right one. One option is prestige cover, which tends to be for high-valued properties as this can provide the level of insurance that you need to protect your most treasured items.
With this being designed for high-valued properties, though, knowing whether you fit into this category will be important before deciding to take out a policy of its kind. Some of the main things you’ll need to consider when making this decision are the size of your house, its contents, extra features and how often you travel.
Value your possessions
The first step towards deciding if you need prestige cover is to value your possessions. Prestige cover tends to be taken out to cover a range of expensive possessions, so take time to count up everything that you want to protect and you’ll be able to see if you need this level of insurance. Suitable items could be anything from artwork to the tech in your living room.
You might identify individual pieces that could benefit from specialist cover like jewellery insurance if they are of particularly high value.
Does your home have unique fixtures and architecture
Unique homes may require specialist attention if they’re subject to any damage and, so, finding suitable prestige cover may be necessary to ensure that you can fix the issues without taking on an enormous financial burden.
Do you have any other buildings near your home?
If your home is on a big plot of land, then you may have other buildings or structures like guest houses or an annexe, which will also require insurance. Normal home insurance may not protect these as they exist outside of the primary building but prestige insurance may be suitable for all of your buildings.
Are you a regular traveller?
There are two reasons why prestige cover can help avid travellers. It can cover your home from theft, which is more likely when you’re out of the country, and it can also provide the necessary insurance for your travel. This could be to cover you from hospital visits abroad or cancelled air travel, which impacted roughly 2% of flights in May and June 2022.0