4 Questions Answered Regarding High Net-Worth Insurance

High net-worth insurance caters to wealthy individuals who have greater exposure to loss in the case of insurance failure.

1) Who Uses High Net-Worth Insurance?

High net-worth insurance is available to any person who has an above average-priced asset or income. For example, a person with a home valued over $1 million may seek high net-worth insurance.

2) What Does High Net-Worth Insurance Cover?

The coverage extends to unique charges that may be incurred due to the expense of an asset or excess liability. A custom car will be more expensive to repair than a factory model. Similarly, a wealthy person may be sued for a greater amount than a middle-class individual.

3) How Expensive Is High Net-Worth Insurance?

As with any insurance, you pay for what you get with high net-worth options. The higher limits you look to receive, the more expensive your coverage will be. Thankfully, claims are rare, which means you can still get a very valuable amount of coverage for a reasonable expense each month.

4) Which Companies Offer High Net-Worth Insurance?

Most major insurance companies offer high net-worth insurance. If you are seeking specific lines, such as custom car lines or kidnap and ransom insurance, you may need to look for companies catering to your particular needs.

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