The Research Department examines high net worth buildings and contents cover and credit card repayment protection
High net worth
TRD recently launched a new high net worth (HNW) home insurance analysis within its Aequos database. This month we compare the buildings and contents cover on offer from ten of the HNW providers.
With Christmas fast approaching, and very attractive 0% offers on credit cards, many people will be tempted to put their purchases on plastic and pay off the debt in the next year. We look at the payment protection insurance on offer from a wide range of card providers.
HNW buildings cover
HNW cover is traditionally associated with the intermediated market, and provided by a small number of specialist insurers. In the past year a number of insurers have launched or relaunched products for this market, and others are eyeing the sector as a growth area.
What may be surprising is the diversity in the levels of cover available. Oak Underwriting narrowly offers the best cover, with the new Zurich Private Clients policy coming a close second.
Key features of the Oak Underwriting
Area where it lags behind includes:
Credit card repayment protection
Most people who tick the box on their credit card application form to say they want payment protection cover probably have little idea how much variation there is in the cover on offer.
Of the 50 products analysed Sainbury's Bank and Co-op's Smile cards were clear leaders.
Key features of the Sainsbury's Bank card policy include:
Areas where the card lags behind some of the others include:
HNW contents cover
When we look at contents products there are a significant number of features from which to select. For the 22 features selected the Zurich Private Clients product leads the field, with HSBC Select's new Platinum Plus policy and NU Tapestry marginally behind.
Key features of the Zurich product include:
Areas where it lags behind include:
Source: Aequos - for details:
www.trd.co.uk , freephone 0808 1000804
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