Does the thought of air rage attacks keep you awake at night? If so — and provided you are rich enough — you can now get home insurance that includes cover for treatment of any psychological effects following such incidents, writes Melanie Wright.

Zurich this week launches Ultimate Home, a new home insurance policy specifically designed for “the most affluent people in the UK”.

The policy is aimed at those whose home contents are valued at more than £200,000 and has no upper limit — ideal for those with an important art collection, or who keep a few Ferraris in the garage.

A growing band of specialists are catering for this market because standard insurers can sometimes be reluctant to offer cover if your contents are above about £100,000. But with premiums nearly 10 times higher than standard insurers, many people will question whether the policies are worth it.

The Zurich service comes with plenty of added extras, including a free concierge service to help wealthy policyholders with the trials of everyday life, such as booking holidays and restaurants, as well as travel insurance and cover for marquees and any additional homes that they might need to insure.

Zurich already provides cover for car-jackings and road rage in its existing range of high net worth policies, but Ultimate Home cover includes the after- effects of air rage and aggravated muggings and burglary.

Chubb’s Masterpiece home insurance also includes cover for air-rage attacks, kidnap, car-jacking, aggravated burglary and stalking.

A woman aged 50 living in a four-bedroom terraced house in Chelsea, with contents valued at £200,000, and five years’ no claims, would pay £93.05 for annual contents cover with Halifax, but £914.55 with Chubb.

Peter Gerrard, a researcher at insuresupermarket.com said: “It can start getting tricky to find cover if you have contents worth over £60,000 or £70,000, in which case you will need to look at high net worth cover.

“Don’t be persuaded by the gimmicks, though — look at what the actual contents and buildings cover provides rather than things like concierge services.”

One key benefit of high- net-worth contents cover is that most policies cover possessions anywhere in the world, with accidental loss and damage included.

Most standard policies only cover possessions in the home, and then only against “named perils” such as storm, fire and theft.

Another advantage is that policies usually offer a “replacement cost cash option” which means you will be offered a full “new for old” cash settlement on personal property. It’s up to you to determine if you wish to replace the item.

Most standard home-contents policies only provide replacement items rather than a cash sum.

For more on insurance visit www.timesonline.co.uk/insure

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