If you have more to protect, a high net worth insurance policy may help protect your large assets and cover your risks.
Protect your wealth with a high net worth insurance policy.
High net worth insurance, contrary to what its name might suggest, is not merely an extension of standard personal insurance featuring elevated coverage limits and increased premiums. Rather, it addresses the distinct coverage requirements of individuals possessing substantial assets.
Combines coverages based on your needs.
This type of insurance addresses the challenge by integrating various areas of coverage and expertise into a tailored insurance solution that reflects your specific requirements. Typically, this encompasses protection for your residence or residences, vehicles, travel, and even life insurance. The solution is crafted to align with your unique risks, assets, and lifestyle, rather than merely amalgamating standard policy terms and conditions.
A real-world example of how high net worth insurance works.
High net worth insurance is distinct in its design, which is reflected in its operational mechanisms. For instance, you might seek insurance coverage that facilitates the repair of a damaged vehicle at a repair shop of your preference, utilizing factory-original components. Additionally, you may prefer to insure your vehicle for an agreed value instead of its market value. This arrangement ensures that both you and the insurance provider establish the payout amount in advance, should a total loss claim arise.
Does your policy cover you while traveling?
It is essential to recognize that not every insurance provider offers coverage for individuals who often travel abroad. Therefore, it is crucial to choose a policy that encompasses features such as auto liability, kidnap and ransom protection, as well as medical evacuation coverage.
Does your policy include coverage for your secondary home?
For individuals who possess several properties, it is essential to obtain a high net worth insurance policy that provides liability coverage for your secondary residence. Additionally, you may consider adding excess liability coverage to increase your liability limits.
Specific coverage options for unique risks.
It is important to recognize that there are additional distinct risks that may be specifically relevant to your lifestyle. Services such as domestic assistance, including nannies or landscaping teams, as well as concerns like identity theft and international travel, each have specialized insurance solutions designed to safeguard your assets. If you possess significant assets, high net worth insurance can be customized to address the specific requirements of your lifestyle. We invite you to reach out to us to discuss your coverage options.