Exclusive personal insurance

As soon as your possessions exceed the standard norms. Think of a home with unusual materials or a high rebuild value, jewellery and art that exceed the sub-limit of an ordinary contents policy, or a liability risk for which the usual maximum per event is tight. If you stay within the norms, a high net worth package adds little.

Not everything. Insurers usually require a valuation for the building in the case of unusual properties and for individual items above a certain value, such as a painting, a watch or an instrument. For the remaining contents a value calculator is often still enough. Which threshold applies differs by insurer and is set out in the acceptance conditions.

In a high net worth package, usually yes, including in transit and while staying abroad, often with a limited period per trip. Conditions do apply: loss without identifiable circumstances, leaving items in an unattended car or in checked baggage is often excluded or restricted. Read that passage in the conditions before you travel.

Those situations change the risk and you must report them. On entering into the contract, the duty of disclosure under Article 7:928 of the Dutch Civil Code applies. A breach can reduce the payout or cause it to lapse (Article 7:930 DCC). Letting, letting rooms, prolonged vacancy and running a business from home often fall outside the cover if not reported, in a high net worth package too.