What modern security methods do high-net-worth properties need?

For insurance brokers with High-Net-Worth (HNW) clients, knowing about the latest advancements in property and asset security can help you provide informed risk advice to your clients.

Dean Jacob, Senior Risk Appraiser at Mansions of Australia, says as technology evolves, so do property and asset security needs evolve.

“In today's world, leveraging advanced technology is key to ensuring the utmost protection of your client’s high-value assets,” Dean says.

As trusted advisors, insurance brokers play a pivotal role in guiding clients toward the most effective security solutions. Here are some risk mitigation measures for your clients to consider.

Enhancing surveillance

Security cameras are an obvious option and thanks to today’s technology, these devices are easier to monitor than ever before. They can transmit directly to smartphones and registered security companies for regular monitoring, providing alerts based on motion or thermal activity within a set radius.

“While security cameras are useful, it’s important to set realistic expectations regarding camera ranges to avoid false alerts triggered by wildlife,” says Dean. “Otherwise, you run the risk of getting alerts for things like a possum running across the fence.”

Beyond traditional locks

Dean stresses the importance of evaluating and integrating the latest technology into your client’s security plans.

“The use of burglar alarms that have been installed by Australian Security Industry Association Limited accredited security contractors must remain a standard feature of home protection,” Dean says.

“However, another trend becoming clear is the replacement of deadlocks with biometric or electronic locks.”

Biometric locks for homes are likely to include fingerprint or facial recognition technology while electronic options may include keycard or code access. Customisable access codes for different individuals can be integrated seamlessly with phones and smart home systems, allowing alarms and door openings to be activated remotely.

The ability to easily change codes adds another layer of security to high-value homes.

Other security considerations for high-net-worth homes

There are a few other issues that brokers can discuss with their clients to help protect their properties.

• Perimeter protection
  This protection ensures that property boundaries are secured from unauthorised access. Some measures to consider include gates, fences, anti-climb paint and security lighting.
• The use of reputable fire-rated safes with appropriate cash rating, commensurate with the exposure
  This safeguard can protect priceless jewellery from theft and fire damage.
• Be mindful of social media use
  Photos posted online can be used to identify the location of the property and whereabouts of the insured, which can lead to targeted theft.

By remaining vigilant about these issues, brokers can provide invaluable guidance to ensure the integrity and security of high-value homes.

Experts for HNW home and contents cover

When securing HNW properties, staying ahead of the curve is key.

The Mansions of Australia team specialises in arranging protection for homes and belongings of HNW clients and is always here to discuss your client’s needs.

Contact us today on 1300 738 308, or by email at mansions@mansions.com.au for further consultation or inquiries.

This document is intended for insurance intermediaries only. The Mansions Executive Insurance Product Disclosure Statement is issued and underwritten by QBE Insurance (Australia) Limited (ABN 78 003 191 035, AFSL 239545) (QBE). SGUAS Pty Ltd t/as Mansions of Australia (ABN 15 096 726 895, AFSL 234437) (Mansions) is authorised to distribute this product on behalf of QBE acting under its own AFSL. Any information contained in this document is general advice only and has been prepared without taking into account your client’s objectives, financial situation or needs. Your client should read the Mansions Executive Insurance Product Disclosure Statement (PDS), Target Market Determination (TMD) and Financial Services Guide (FSG), which can be obtained by contacting Mansions on 1300 738 308 or visiting www.mansions.com.au before deciding to acquire, or to continue to hold this product.