If you have an exceptional lifestyle GPS Insurance Brokers are able to help owners of higher-value home, cars, family fleets, second homes and yachts.  GPS has recently combined a client’s personal insurance portfolio comprising of their home, jewellery, high performance vehicle and yacht.

Higher value homes by their very nature do not fit standard insurance policies. Your insurance premium is calculated based on your individual circumstances and the amount of cover you choose to take out. If the cost to rebuild or replace your property or contents is £100,000 but you have taken out insurance that will cover you for £50,000, then you would effectively be underinsured by £50,000 or 50%. Any claim you make will only be paid on the basis of the amount of cover you chose, based on what is called the ‘average clause’ – so in this example your insurer would only cover 50% of any claim, no matter the size of that claim. This would leave you needing to pay the remaining costs yourself which could be anything from hundreds, to thousands, to millions of pounds.

Do you know how much it would cost to rebuild your house exactly as it was?  Or replace lost possessions? Standard insurers leave that calculation to you…  Under-estimate, and they can penalise you by reducing your settlement in proportion to your under insurance!

It’s the same story with your vehicles. Whether you drive a Bentley, Ferrari, Lamborghini, McLaren, Porsche or Rolls-Royce it is worth peace of mind for your pride and joy with fewer limitations than most standard policies will deliver when it really matters. For example a like-for-like courtesy car.

GPS can combine your home and motor policies into one simple, easy to manage insurance package – with one renewal date and one premium. For more information please contact our private client division on 020 8207 7385.