Restore a Period Property in Ireland - Articles & Advice
High Value Household Insurance by Gary Johnston, Sales Director at Wexford Insurances
As an owner of a high value or period home, it's important that you have the right insurance in place for your property, contents and valuables. By choosing Wexford Insurances, you'll have access to a director and or a designated account executive who'll take the time to understand your individual requirements and arrange the right protection for you. We pride ourselves on offering a personal service to make sure you get the attention you deserve.
Wexford Insurances acts as broker for all the main insurance companies operating in the high net worth market and as such we are well placed to assess the needs of clients in this area. What's more, our relationships with specialist insurers mean we can also provide a variety of enhanced benefits.
These can include:
- Worldwide 'all risk' cover (most standard policies will only cover possessions inside the home against named perils such as fire, storm, theft, flood, etc.)
- Specialist cover for collections of fine art, antiques and jewellery
- Family annual travel insurance
- Cover for holiday homes (Ireland and overseas) and investment property
- Home office equipment
- Employers' liability for domestic staff (up to €15,000,000)
- Public Liability (up to €10,000,000)
- Outdoor items
- Worldwide cover for money and credit cards
- Cover for students' possessions away from home
- Legal expenses cover (up to €150,000)
Agreed Value Approach
One of our underwriters says 'we try to settle a loss before it happens'. From day one you can be reassured that your possessions are covered to the agreed insured value without quibble. You may individually list all of your valuable possessions with a specific value for each piece. In the event of damage or a loss, you will receive payment for the exact amount listed for the item - with no deductions.
Specified cover means you can agree on an insured value with us for individual valuable items. In the event of a loss, underwriters will pay you the exact specified amount. So if we agree to insure your necklace for €30,000 and it is lost/damaged beyond repair, insurers will pay you €30,000 - with no deductions.
If you own a few pieces each worth less than €3,000, you can arrange for lump sum cover without having to list each item. In the event of a claim the maximum insurers will pay for any one item is €3,000.
Valuations Only Required For High Value Items
With many of our underwriters we do not require valuations for all your valuable possessions. We only ask for valuations if an item exceeds €30,000 for jewellery and €63,500 for fine art.
Replacement of a Pair or Set
If you lose one item of a pair or set, you can choose to receive the full replacement cost of that pair or set if you provide insurers with the remaining piece(s). They will also repair a damaged item and provide settlement for any reduction in the value of the pair or set as a whole.
"All risks" Worldwide Cover, Including Accidental Loss and Damage
This broad coverage means all your possessions are automatically covered wherever you are in the world, including for breakage.
Each policy we arrange is tailor made and will have its own selling points. Several underwriters now offer more relaxed alarm conditions, which no longer require the alarm to be set every time you leave the house. They rely on your natural desire to protect your property.
It is when you make a claim that you really find out how good your insurer is and we are confident you will not find a better service in Ireland or the UK market. The underwriters we use have been voted Best Claims Service and in the region of 98% of policy holders who have experienced a loss have rated their claims service as excellent.
To Obtain Your Personally Tailored Quote
Gary Johnston is Sales Director at Wexford Insurances - Period Property & High Value Homes Specialist Insurance Broker.