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Valentines Day & High Net Worth Insurance

14th February 2023

Valentine’s Day can be a special time for individuals who are looking to spoil their loved ones with expensive gifts such as jewellery, high-end watches, or even luxury holidays. While these gifts may bring joy to those who receive them, they also increase the risks of theft, loss, or damage. This is where high net worth insurance can play a critical role.

What is High Net Worth Insurance?

High net worth insurance, also known as private client insurance, is designed for individuals who have high-value assets and require a higher level of coverage. This type of insurance is designed to cater to the specific needs of high net worth individuals and offers a more comprehensive range of coverage compared to standard insurance policies.

What kind of cover does it provide?

High net worth insurance policies can provide comprehensive cover for expensive gifts, protecting them against theft, loss, or damage. This type of insurance also includes liability cover, which can protect individuals from being sued if they cause harm to others while enjoying their Valentine’s Day gifts. For example, if a high net worth individual hires a private chef to come and cook a lovely romantic meal for their loved one, and has an accident injuring themselves, liability coverage can help cover the costs of any injuries.

In addition to protecting gifts and liabilities, high net worth insurance can also provide coverage for high-value homes, expensive cars, and fine art collections. These assets are often the result of hard work and dedication, and it’s essential to have them protected against any potential losses or damages. With high net worth insurance, individuals can rest assured that their valuable possessions are safe and sound.

Maintaining adequate cover

We would suggest completing a ‘contents checklist’ every 2-3 years, to double check that all your limits are adequate.

Generally, items like new clothing, handbags, and shoes would be covered in the general contents, whereas valuables would be set out in their own dedicated sections such as Artwork, Jewellery, Collectibles etc. These are particularly important to pay attention to, as it could affect your policy as a whole.

Some high net worth polices do allow for things such as: –

  • Items covered in full for a certain number of days after purchase without notifying us.
  • Unlimited contents cover whereby the client doesn’t necessarily need to worry about the exact figure for the contents limit.

(It is important that you are aware of whether your insurance policies provide these types of benefits as standard in advance of any purchase.)


In conclusion, we would advise that clients notify us of any major purchases or changes to the limits on the policy, so we can advise accordingly. There are so many different nuances about each policy, it would be unrealistic for clients to know what to do in each particular instance.  If you are in any doubt, it is always best for you to give us a call.

Interested to find out more about how we can assist you with High Net Worth Insurance?

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