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About our client
Our client had been with us since 2020, residing in a beautiful Grade II* property in Walton-on-the-Hill . Their contents were modest, and at renewal their contents sum insured was set at £150,000, with minimal additional art and antiques cover, as well as protection for selected jewellery and watches. However, the client was shocked to discover that the rebuild cost estimate for their five-bedroom property was an astronomical £4 million. This was due to the property’s listed status, which significantly increased the rebuild cost and created a notable discrepancy between the buildings and contents valuations.
The challenge
Due to the imbalance between the buildings and contents valuations, the client’s existing insurer was unwilling to offer renewal terms until the contents cover was addressed. This prompted the client to explore alternative options; however, the quotes received were significantly higher than the expiring premium of £4,200, with some nearly double that amount. Eventually, the client agreed to increase their general contents cover – despite it not being required – so their existing insurer would provide renewal terms.
At this point, we highlighted that the property had not undergone a survey for some time and recommended carrying one out to determine the client’s true needs.
Our solution
One of our client managers and client directors attended the property while a survey was being carried out. This allowed them to fully understand the client’s requirements and the property itself, ensuring the insurance could be accurately tailored based on first-hand knowledge rather than assumptions.
Following the visit, we were able to approach the insurer to confirm the accuracy of the contents sum insured and advise the client correctly on how the cover should be structured. This process uncovered underinsurance within the fine art section, as the client had not realised which items needed to be included and also revealed that the buildings sum insured had been overstated by nearly £1 million.
What happened next
Following our team’s successful visit, the client received insurance based on fact – not assumption – and was issued a refund of nearly £500.
Upon renewal in 2025, the client manager once again negotiated with the insurer, securing further discounts to retain the client, resulting in an additional £600 reduction on their expiring premium. The client was delighted to continue working with the insurer on this basis and praised our client manager for achieving yet another excellent result.
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Written by Matthew Ashton
I started working in the insurance industry in 2004. Four years later, I left to focus on theological studies, working as a youth worker and then as a ministry director in Seattle, USA. When returning to the UK, I had an opportunity to work for the late Andrew Marchington. I joined his firm as a sales advisor when it had around ten staff members. Within three years, I was Head of Ops with a staff team of over 30 people. After a chance encounter in 2019 with Rachel Living and Will Cooper, I co-started Stanhope to build a high-value home, luxury watch, and jewellery broker synonymous with trust. I love being with Donna, my wife, and four kids when not working, cramming in the odd row, or run when I can. I am fortunate to love what I do and consider it a blessing to grow the Stanhope brand.