High net worth insurers are insurance companies that specialize in protecting the homes and possessions of wealthy individuals. They offer policies with higher coverage limits and special perks that aren't offered by standard homeowners insurance carriers. They are generally available for homes with market values of at least $750,000.
Best Luxury Home Insurance Companies
You should choose an insurance company that knows your needs. You can choose a provider that offers endorsements like identity theft, and/or a carrier who has experience in insuring properties of high value.
Chubb AIG State Farm, are amongst the top luxury homeowners insurers. Some of the top luxury home insurers include Chubb, AIG and State Farm.
The expanded coverage limit is often the main reason for purchasing a high-net-worth homeowners policy. This can range from $75 million to more.
It is also possible to cover second homes and vacation houses with a policy for high net-worth homeowners. This can be a valuable benefit for travelers, since you won't worry about losing your home if an unfortunate event occurs during your trip.
In addition to expanded coverage, high net worth homeowners policies usually provide more complete liability and valuables coverage than a standard policy does. This could include coverage for jewelry, artwork or vehicles, depending upon your company's requirements.
These policies offer additional benefits such as free assessments and waivers of deductibles in the event of natural disasters. Sometimes they offer risk consultations and provide access to personal concierges or representatives.
A homeowners policy for high networth individuals may also include an umbrella of personal excess liabilities coverage, which will protect you in the case of an uninsured claim. This umbrella coverage can be raised in $1,000,000 increments.
A high-net-worth home insurance policy will protect your assets, wealth, and other valuables from damage. It's essential to work with an experienced agent who can help you evaluate your current home insurance coverage and find a better policy.
Home Insurance Market for HNW Clients has a Dynamic Space
Many different types of homeowners' insurance policies are available to suit a variety of consumer needs. Some companies have tailored their products specifically for high-net worth clients in this dynamic marketplace. They are companies with underwriters and claim adjusters that understand the needs of wealthy households.
You can customize these high net worth home policies with endorsements that suit your lifestyle and needs. These endorsements may include coverage for identity theft, water backup and service lines.