Who Needs High Net Worth Insurance?

Written By Charlotte Insurance on December 10, 2018. It has 0 comments.

a home in Charlotte, NC belonging to someone who needs high net worth insurance

You still remember the college days of eating ramen noodle and working a part-time job. Your first job out of college still lingers too — bad hours, bad pay, but it was freedom. Over the years you’ve worked hard to build a good life for yourself and your family.

You’ve got a large home in a nice neighborhood, maybe even a vacation home, and a few cars. You’re doing better than most, so why are you using the same old home or auto insurance? For the best protection and coverage, you need high net worth insurance.

What is High Net Worth Insurance?

High net worth insurance is a specialized insurance coverage for individuals and families who make a comfortable living. They tend to have multiple homes, collectibles, antiques, multiple cars, and more. Having a more comfortable life with more possessions opens you up to much more risk. Standard insurance coverage can’t cover your property or potential liability in the event of an accident, storm, or other covered peril. The available limits won’t be able to make you whole again if a storm or accident destroys everything.

Because your assets are greater than most, and your risk higher, your coverage needs to be more tailored to your needs. This means you have more options than a standard policy:

  • Replacement cost coverage for your home
  • Extra liability protection for home and auto insurance
  • Personal excess liability insurance
  • Cash settlement option for your home insurance
  • Special features coverage
  • Coverage for vacation homes

Do You Need High Net Worth Insurance?

Not everyone who needs high net worth insurance rides in limos or owns multiple yachts. You may simply be part of a family who’s worked hard to build good careers for yourselves. Maybe you built a business from the ground up and had great success. Now you have a nice home, a vacation home, and live a comfortable lifestyle. You don’t feel rich, but you’re a millionaire on paper.

Once you add up the values of your homes, your jewelry, maybe even that special wine collection you started a few years ago, your net worth begins to increase. Add in stock options and even luxury vehicles for you and your spouse, and you can begin to see how you qualify for high net worth insurance.

You’ve worked hard to build this life, and it deserves to be protected with better insurance than standard policies. Take care of your investments and your families with the right high net worth insurance policy.

Contact Charlotte Insurance today and take advantage of our private client services option. We’ll work closely with you to make sure your home, auto, and other insurance coverages match the life you’re living today and protect what matters most to you.

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