LONDON (Reuters) — Two clicks on the Internet can buy you cut-price home or car insurance, but will such policies cut the mustard if your home is a multi-million pound London townhouse and your car of choice is a top-of-the range Ferrari?The rich are obvious targets for Britain’s banks and wealth managers, but specialist general insurers are also carving out their slice of this lucrative — and expanding — market.

“There are 3 million or so mass affluent individuals in the UK with liquid assets of more than a quarter of a million pounds,” said John Sims, insurer Chubb’s head of personal lines insurance for Europe.

“If you look at how many of those are with specialist insurers, it’s a pretty low percentage — 10 to 15 percent. The growth potential in the high net worth market is huge.”

High-end insurers like Chubb and British rival Hiscox offer all the comforts and personal service private banks provide for millionaires and billionaires — limited paperwork, personal service and, when you have to claim, no haggling over the fine print — even if the front door was unlocked and the burglar alarm switched off.

“We provide a tailored service for the laying off of risk,” said Charles Dupplin, head of the Art and Private Client division at Hiscox. “There is nothing to stop a rich man going to a standard insurer — but if you have an economic loss of 100, they will pay you 50-60. We aim to pay 98.”

Art collections can be covered from the moment the hammer comes down in a New York auction room and wherever they are in the world — one enthusiast took out a policy to cover a Monet painting tucked in his briefcase at all times.

Keen drivers can be protected when whizzing around in the neighbour’s Porsche, and, in line with the times, clients can get advice on avoiding kidnap and identity theft.

Wealthier clients are more unwilling to part with details of their possessions and families, but they are also less keen to change once they have settled on a provider, making them an appetising proposition in a market of fickle consumers.

“The average length of time you have a client is ten to 15 years, as opposed to three to four years in the low-net-worth segment,” Dupplin said. “People are very loyal, and they don’t change. This makes clients extremely interesting for us to acquire, and we spend more time doing that.”

But whether insurers attempt to woo clients directly or through brokers, the toughest challenge is explaining the difference between regular, less expensive, policies and the full-frills approach of a specialist.

Much like regular customers, the wealthy like to cut corners by taking out cheaper insurance — until their first burglary.

“The frustration is people will make buying decisions based on price. You can buy cheap motor insurance with a supermarket and people are bound to think it’s a commodity,” Sims said. “It really isn’t; there are very good products and very bad products.”

Specialist insurers may send out art experts for home visits and give clients the personal touch, but they agree their seamless and generous claims service — described by one provider as “concierge-like” — is the key to keeping clients.

Helped by higher premiums and lower fraud — as most of their clients are simply too wealthy or have careers based on reputation — these insurers can offer wider policies and pay far larger settlements than the average insurer.

“If you happen to go on holiday for two weeks, leave your front door open and you have a million pound burglary, we will pay,” Sims said.

“We won’t be thrilled, but we’ll pay.”