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Why High Net Worth Requires a Different Insurance Policy

If your financial assets have recently seen a significant increase, it may be time to consider a customized policy type– high net worth insurance. Those with larger assets are susceptible to unique risks, and it’s important to consider these when discussing personal insurance policies.


Having a higher net worth often leads to a different lifestyle, so one of the most important aspects of the adjusted insurance is its customizability. Your personal assets, lifestyle, and risks are examined and factored into the best solution for your situation.

Some risks more unique to higher-wealth lifestyles are household help such as a cleaning service, a nanny, or landscaping crews; identity theft; and international travel. An extremely expensive home is another common factor, as are family heirlooms, collections, and antiques. More assets mean more to protect.

Valuable Possessions

For some households, standard insurance doesn’t always fit the bill. High net worth insurance can be customized to cover more specialized areas than just one’s home or vehicle. With assets such as antique collections or precious family heirlooms, numerical value is less easy to pinpoint. It’s important to have your insurance provider assess the valuables so an amount can be agreed upon up front. It’s a lot more difficult to decide the value of a 19th-century dining room table lost in a fire after the accident has already occurred.

When the Sky’s the Limit

As you might expect, high net worth insurance includes increased policy coverage and broader limits. Standard policies only cover assets up to a certain amount, one that’s likely not enough for high net worth households. You deserve coverage on all your valuables, not just some– even those who appear to have money to waste shouldn’t have to risk losing their assets in an accident or robbery.

Lastly, high net worth insurance policies offer many specialty coverages based on a greater variety of properties. These additional options include watercraft, classic car, valuable possessions (jewelry, art, etc.), yacht, secondary/vacation home, and annuities insurance.

Have more questions about high net worth insurance policies? Contact us today to learn more!