Kerry London News

Protection against the cost of rising burglaries

Tuesday 18th July
Protection against the cost of rising burglaries

A survey of high-net-worth individuals in the UK discovered almost half (46%) are worried their friends and family overshare information about them and their lifestyles on social media. Media reports have highlighted the issue of burglaries on wealthy individuals, particularly celebrities and sports professionals. Following a burglary, one celebrity influencer has decided to be more cautious about the personal information she shares on social media.

Organised criminals often carry out burglaries affecting wealthier homeowners, meaning the losses are usually bigger. In response to experiencing crime, more than a third of wealthy individuals (35%) reported changing their routines, and three in 10 (30%) came off social media altogether.  

The cost of protecting a higher-value home 

Many wealthy individuals, particularly those with a public profile, spend extended periods away from home, making them more vulnerable to burglars. It’s reported that many celebrities and wealthy individuals invest heavily in home security. Manned security is the most expensive but other security measures include specially trained guard dogs and installing panic rooms in their homes.

Use a high-net-worth insurance specialist

Organising specialist high-net-worth home insurance for high-value properties and valuable home contents is essential. Home insurance can’t prevent a burglary, but it offers peace of mind that the cost of stolen possessions and related damage will be covered if the worst happens. This is important given that most already face additional security costs such as 24/7 manned security, alarms, panic rooms and surveillance technology.

Using a high-net-worth specialist means a personal insurance advisor manages the complex process of insuring properties and possessions and personal claims management. They will also offer risk management advice for those with security concerns. Kerry London private clients can arrange individual or combined policies, including buildings and contents, fine art, jewellery and valuables, and travel, under one policy. Making a claim is a stressful experience, so their in-house claims team will manage the process from start to finish and provide a personal, prompt response.


  • The number of High-Net-Worth Individuals (HNWI) in the UK rose 6.3 per cent to 609,400 in 2021 as wealth increased globally.  
  • According to Credit Suisse, the number of Ultra High Net Worth (UHNW) people (with assets of more than £43.7m) increased by more than 50% over the past two years.   
  • The 2022 World Wealth Report by Capgemini revealed that the HNWI population worldwide rose to about 22.5 million.

Lee Partner, Head of Commercial and Private Clients, Kerry London, said:

“Making an insurance claim can be an emotional time because of the stress and circumstances of the loss. Claims often involve a sentimental loss, as well as a financial one. Underinsurance needs to be tackled early to ensure full values of losses are settled and paid.

Using specialists to calculate the current value of the building, contents, jewellery, artwork, and antiques is essential in improving the accuracy of valuations and getting an appropriate claims settlement. This is particularly important in the current climate, where currency and share trading are highly speculative and unpredictable.”

Preventing underinsurance  

Burglars targeting homes the homes of celebrities are often reported to have targeted jewellery and watches, probably because they have a high value and are easy to move. However, items such as jewellery are frequently underinsured due to out-of-date valuations, and this is often only noticed when a client claims on their insurance. Underinsurance on such valuable items will only exacerbate the impact of a stressful incident such as burglary. If possessions are insured for less than it would cost to replace them, insurers will generally only pay a percentage of the claim. Other insurers might choose to void the policy completely, leaving the policyholder with no cover.  

A specialist high net worth broker helps identify the risks high net worth clients face and accurately insures their home and contents. They know that providing an accurate claims settlement is vital to help minimise both the financial and emotional impact on homeowners.  

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Kerry London is authorised and regulated by the Financial Conduct Authority. The company is a leading UK independent and Lloyd’s accredited broker, which means that we work with a wide range of niche and major insurers.

This note is not intended to give legal or financial advice, and, accordingly, it should not be relied upon for such or regarded as a comprehensive statement of the law and/or market practice in this area. In preparing this note, we have relied on information sourced from third parties, and we make no claims as to the completeness or accuracy of the information contained herein. You should not act upon information in this bulletin nor determine not to act without first seeking specific legal and/or specialist advice. We and our officers, employees or agents shall not be responsible for any loss whatsoever arising from the recipient’s reliance upon any information we provide herein and exclude liability for the content to the fullest extent permitted by law.

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