Matthew Ashton

Written by

Matthew Ashton

3 minute read

Updated 22nd March 2024

How much will it cost to insure my high-value home?

High-value home insurance provides coverage for homes worth more than the average. This type of coverage is designed to protect homeowners against losses that could potentially exceed the limits of a standard homeowners policy. This short article will aid in quick discernment of whether you’re in the high-value home category.

Whilst not an exact science, experience suggests you’re a high-value home customer if:

  • The rebuild value (market value vs rebuild value guide) of your home is more than £1,500,000, and
  • The general contents value of your home is more than £150,000, and
  • The total cover needed for valuables (jewellery and watches) is more than £50,000, or you have one item with an individual value of £25,000 or more.
  • You currently pay more than £2,000 per year for your home insurance.

Can you say yes to the four categories above? Then you qualify as a high-value home customer.

The base ratings for a high-value home insurance

Visiting a high-value home broker is like visiting a tailor; they will design a product cut to fit. A high-value broker asks specific questions, allowing them to negotiate more favourable terms with an underwriter. The primary rating factors for a high-value home insurance product, including some unique questions asked, include:

  • Building sum insured
  • General contents sum insured
  • Valuables (jewellery and watches) sum insured
  • Fine art, paintings and antique furniture sum insured
  • Gold and silver plated items sum insured
  • Wearing habits of the jewellery, including when they were purchased and last valued
  • How much jewellery is never worn (valuable items always kept in the home are rated lower than items worn outside the home)
  • The security at the home
  • Other general household rating factors like postcode, claims history, financial history, etc.

The magic formula and estimate costs

A high-value home risk-gathering call can take between 10 to 20 minutes. To honour everyone’s time, we use these calculations live on the phone in the first few minutes to discern if we can help.

Are you a high-value home customer living in London? Please note that if you live in London, the base rate for buildings’ general contents and valuables can be substantially higher due to factors such as high flood and subsidence scoring areas and increased theft-rated areas. We encourage you to use the calculator and talk with your broker for more accurate costings.

Type of CoverRate per £100 Cover
(Excl IPT)
(Multiply Sum Insured By…)
Estimate cost for £100,000
(Excl 12% IPT)
General Contents25p0.0025£250
Fine Art, Paintings & Antiques20p0.002£200
Gold & Silver Plated Items30p0.003£300

With few available high-value home insurance products on the market, alongside a general rise in insurance costs over the past few years, it is essential to work collaboratively with a high-value home insurance broker to keep costs down. A broker will also help you decide on the right product, considering inner policy limits and claims service quality.

Example formula below based on the ratings in the table above:

(Building Sum Insured x 0.0012) + (General Contents x 0.0025) + (Valuables x 0.01) + (Fine Art x 0.002) + (Plated Items x 0.003) – (any discounts) x 1.12 + 50 fee = estimate cost

(£2,500,000 x 0.0012 = £3,000) +
(£300,000 x 0.0025 = £750) +
(£50,000 x 0.01 = £500) +
(£150,000 x 0.002 = £300) +
(£10,000 x 0.003 = £30) = £4,580
(10% No Claims Discount) x 1.12 + £50 fee = £4,616.64

Read our helpful article for more advice on ways to keep the cost of your high-value home insurance down.

The following must be considered alongside the magic formula

We use the formula above to sift out unrealistic expectations from prospects. However, there are ways you can keep your premiums low:

  • Excess: Adding a voluntary excess can substantially impact your premium. Some insurers offer a 10% discount for a £500 excess.
  • Valuables Floating Limit: If you have an extensive jewellery collection but do not wear all of the items simultaneously, then DON’T PAY for all of the items to be covered outside the home at the same time. Ask your broker to consider a floating limit on your policy, meaning you’ll only be charged for the cover needed outside the home.
  • Security: Consider installing additional security to reduce your premium. Some insurers offer discounts if you have a cash-rated safe installed and/or an annually maintained alarm system.
  • Claims History: High-value home insurers offer discounts for 5+ claims-free years. Try to avoid the more minor claims (if possible!).

If you want to discuss the above, please contact us today.

Get a quote now

Your name(Required)


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 running when I can. I am fortunate to love what I do and consider it a blessing to grow the Stanhope brand.

Matthew Ashton

More blog posts