Personal Insurance; A safety Net For High Net Worth People
There are many benefits to having been blessed with wealth. You may have a vacation home, boat, plane, or get to travel the world. But individuals with high net worth have increased risks that need to be managed. Personal insurance policies created for high net worth individuals can have much higher limits than average policies, providing the adequate coverage high net worth individuals need for more expensive homes and automobiles, as well as valuable collections, yachts, and aviation.
One-way, high net worth insurance responds to this challenge is by bringing multiple areas of coverage and expertise together into a comprehensive insurance solution based on your individual needs. Many “standard” personal insurance policies have limitations that create the need for a different personal insurance approach.
We can offer specific coverage for the following risks:
- Foreign travel
- Expensive art or gun collections
- Expensive jewelry
- Private aviation
- A greater amount of cash in the home
- Expensive or custom vehicles
- Watercraft that are not covered under a normal policy
- Hired staff
- Custom homes with unique or one of a kind construction
- Homes in foreign countries
- Involvement in charities that create new risks
- Custom furniture or other personal items
- Imported fixtures
Affluent individuals often choose a personal umbrella policy, which provides expanded coverage and increased protection of their assets beyond what is provided under homeowner’s and auto insurance policies. Navigating the insurance maze can certainly be challenging. But it’s important to have the right amount of insurance coverage if you want to preserve the wealth you’re working so hard to build.
Please call our office today if you need to make any changes in your insurance program. We are committed to providing clients with the highest quality insurance plans available combined with some of the lowest possible rates. Whether you are shopping for auto insurance, home insurance, life, or business insurance, we can help you obtain the best coverage available with the lowest rate possible.
Through our relationships with many A-rated national and regional insurance companies, we provide a comprehensive array of insurance products for a variety of personal and commercial clients. Allen & Furr Insurance & Wealth Management represents a carefully selected group of financially strong, reputable insurance companies, therefore, we are able to offer you the best coverage at the most competitive price.
Filed Under: Blog, Home Insurance, Personal Linsurance, Umbrella insurance | Tagged With: Allen & Furr, auto insurance, collectibles, homeowners insurance, Personal Articles, wealth management