As many of us eagerly pack our bags for a well-deserved break this summer, there’s one pressing question every homeowner should consider before heading off: Is your home truly protected while you’re away?
While travel offers a chance to unwind and recharge, the reality is that what’s left behind – your home and belongings – could end up costing you far more than your trip if not properly protected. For private clients, especially those with high-value homes, art, jewellery, or other luxury assets, now is the time to ensure you’re not leaving your property vulnerable.
The high cost of underinsurance
Most homeowners assume their insurance policy will cover any eventuality. However, many fall into the trap of underinsurance, often unknowingly. This is particularly true for High-Net-Worth Individuals (HNWIs), where bespoke items, renovations, or collections may not be accurately reflected in standard insurance valuations.
Commonly underinsured areas include:
- Fine art, antiques, and collectibles: These items may have appreciated significantly in value but are still insured at purchase price.
- Jewellery and watches: Items stored at home may exceed the single-item limit or total contents cover.
- Home renovations and extensions: Recent works might not yet be factored into the rebuild value of the property.
- High-end electronics and wine cellars: Often overlooked in contents assessments, but costly to replace.
Without updated valuations or the right specialist insurance, any loss or damage while you're away could result in a major financial shortfall.
How to keep your home safe while you travel
Beyond insurance, taking practical precautions can significantly reduce your risk:
- Install a monitored alarm system: Ideally linked to a central monitoring station or security company.
- Smart home technology: Use smart lighting and CCTV you can control remotely to give the impression of someone being home.
- Pause deliveries and arrange for bins to be moved: Nothing signals an empty home faster than a full postbox or untouched bins.
- Ask a trusted neighbour or house-sitter to check in: Regular activity around the house deters opportunists.
- Secure all valuables in a safe or vault: A “good hiding spot” is not adequate protection against a professional thief.
Why the right insurance matters
Ultimately, your first and strongest line of defence is a well-structured, up-to-date insurance policy tailored to your lifestyle. Our experienced Private Clients team can help ensure your home and valuables are covered for their full, current value.
Before you jet off, it’s worth having a conversation with us to review your cover - especially if you’ve made any recent purchases or home upgrades.
Don’t let your holiday break become a burden
This summer, protect your home, your lifestyle, and your investments with the right level of cover so you can relax in peace.
Are you confident your current insurance reflects the true value of what’s inside your home? If not, now is the time to review. Contact us today to ensure your cover is fit for purpose.
