How to Insure High-Value Items at Home
The Problem with Standard Home Insurance
Most standard home insurance policies include a single-item limit - a maximum payout for any one item, typically between 1,000 and 2,000 pounds. If you own jewellery, watches, artwork, musical instruments, cameras, or designer items worth more than this limit, they may not be fully covered under your standard policy without being specifically listed (scheduled).
Options for Insuring High-Value Items
Schedule Items on Your Existing Policy
Most home insurers will allow you to list specific high-value items on your policy for an additional premium. This is the simplest approach and means you benefit from your existing insurer's claims process. Items must usually be professionally valued before being added, particularly for jewellery and artwork worth over 5,000 pounds.
Standalone High-Value Home Insurance
Specialist insurers such as Chubb, AXA Art, Hiscox, and NFU Mutual offer high-value home insurance policies designed for homes with significant contents. These typically include: agreed value settlements (you receive the stated value, not a market assessment at the time of claim), worldwide cover for items taken out of the home, and no single-item limits.
Specialist Item Insurance
For specific categories, dedicated policies may offer better cover and value: jewellery insurance, musical instrument insurance (especially important for professional musicians), fine art insurance, and watch insurance from providers like Watchfinder or Beaverbrooks.
Getting Items Valued
- Jewellery: use a certified valuer registered with the National Association of Jewellers or Assay Assured
- Artwork: use a valuer registered with the Royal Institution of Chartered Surveyors (RICS) or a specialist art valuer
- Antiques: use a valuer from the British Antique Dealers Association (BADA)
- Update valuations every 3 to 5 years as market values change
Practical Tips
- Keep receipts, photographs, and certificates in a safe place separate from the items
- Consider a home safe or bank safety deposit box for the highest-value portable items
- Check whether your policy covers items taken outside the home under personal possessions cover
