€300 million. This is the estimated price of the works of art stolen from a well-known Spanish businesswoman more than 20 years ago. In a matter of hours, burglars entered the property and disappeared with the most valuable pictures.

The event, which made a great impact in the media, was a turning point in attitudes to security in the most exclusive homes in our country. While home insurance is essential for any type of residence, protecting those with substantial assets is even more important, especially if they contain jewellery and watches, works of art, luxury collections and accessories or cash.

Are our belongings covered?

But are our belongings fully covered? In most cases, the answer is no. The commonest situation is that the policies contracted by householders do not provide full cover, either because of the user’s ignorance or because the value of the items exceeds the limits offered by insurance companies. A clear example of this is street theft: it is essential to know whether your policy covers the theft of a watch you are wearing in the street.

Professional advice, the key to avoiding unpleasant surprises 

To ensure the policy covers every need, it is vitally important to seek the advice of a professional, who can provide an external viewpoint, drawing attention to situations that the user had not contemplated. In the case of a work of art, the risks to which it is exposed must be taken into account, as the likelihood of deterioration increases exponentially if it is in a space where it is exposed to direct sunlight or is in a bathroom, for example.

Personalised advice for customers according to their circumstances is the best way to anticipate future situations and to be able to respond with appropriate coverage. It should be remembered that not all insurance policies, even if they are in the same sector, need the same coverage.

Currently the main obstacle in the insurance market is the rigidity of the options it offers. It thus becomes essential to examine the guarantees available from different companies and complement them where necessary. Customers need support in this process, so that made-to-measure solutions can be provided for each situation, assistance that only insurance brokers, such as RibéSalat, can offer.

In this way, a package can be configured in line with your needs, covering not only the contents of the home, but also boats, drones and even horses. In these specific cases, RibéSalat also has the advantage of working with foreign companies, thus opening up a wider range of coverage options.

Our assets mean a lot to us, but if they are not properly protected and an unforeseen event occurs, they can cause serious headaches.

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