A New Year Check-In: Is Your Luxury Home Insurance Still Fit for Purpose?

A new year is the perfect time to review more than just personal goals and finances — it’s also an important opportunity to reassess your luxury home insurance.

For high-value homes, insurance isn’t simply a box-ticking exercise. Construction costs change, renovations are completed, valuable items are acquired, and risk profiles evolve. If your policy hasn’t been reviewed recently, there’s a real risk that your home or contents may be underinsured or inadequately protected.

At Luxsure Insurance, we encourage clients to treat the start of the year as a natural checkpoint to ensure their cover still reflects reality.

Why Reviewing Your Luxury Home Insurance Matters

Luxury homes are exposed to risks that standard insurance policies often fail to address adequately. Rising rebuild costs, bespoke materials, architectural complexity and high-value contents all mean that outdated cover can quickly become insufficient.

A regular review helps ensure:

• Your home is insured for current rebuild costs, not outdated estimates

• Valuable contents are accurately listed and protected

• Policy limits, sub-limits and exclusions still align with your lifestyle

• You’re protected against emerging or increasing risks

Rising Rebuild Costs: A Key Risk for Luxury Homes

One of the most common issues we see is underinsurance due to rising construction and labour costs.

Luxury homes often involve:

• Custom joinery and finishes

• Imported materials

• Specialist trades and longer rebuild timeframes

If your sum insured hasn’t been updated recently, a total or partial loss could leave you significantly out of pocket. A new year review is an ideal time to reassess rebuild values and ensure your policy reflects current market conditions.

Have You Made Changes to Your Home?

Even small changes can impact your insurance needs.

You should review your cover if you’ve:

• Renovated or extended your home

• Added high-end fixtures or finishes

• Installed smart home systems or security upgrades

• Improved landscaping, pools or outdoor entertaining areas

These enhancements can materially increase replacement costs — and may not be automatically covered unless disclosed.

Reviewing High-Value Contents & Collections

Luxury home insurance isn’t just about the building itself. Over time, many homeowners acquire valuable contents that require specific consideration.

This may include:

• Fine jewellery and watches

• Art, antiques and collectables

• Designer furniture and furnishings

• Wine collections

A new year review ensures these items are:

• Adequately insured

• Properly described

• Covered for the right risks, including accidental damage

Lifestyle Changes Can Affect Risk

Changes in how you use your home can also affect your insurance needs.

For example:

• Increased travel or extended periods away

• Short-term accommodation or hosting

• Staff working in the home

• Changes to occupancy

These factors can impact policy conditions and exclusions if not properly addressed.

Why Work with a Specialist Luxury Insurance Broker?

Luxury home insurance is not one-size-fits-all. Generic policies often contain exclusions or sub-limits that are unsuitable for high-value properties.

At Luxsure Insurance, we:

• Specialise exclusively in high-value home and contents insurance

• Work with leading insurers that understand luxury risk

• Tailor cover to your property, lifestyle and asset profile

• Review policies proactively to reduce the risk of underinsurance

Our role is to advocate for you — not the insurer — and ensure your protection evolves as your circumstances change.

Start the Year with Confidence

A new year review of your luxury home insurance doesn’t have to be complex, but it can make a significant difference if the unexpected occurs.

Taking the time now to review your policy means:

• Greater confidence in your protection

• Reduced risk of disputes at claim time

• Peace of mind that your most valuable assets are properly insured

Speak to Luxsure Insurance

If it’s been more than 12 months since your last review — or if your circumstances have changed — now is the right time to revisit your cover.

Contact Luxsure Insurance to arrange a personalised review of your luxury home and contents insurance and ensure you’re entering the new year properly protected.

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