High Net Worth Insurance


Custom solutions for your unique risks, assets and lifestyle.

What is High Net Worth Insurance?

People with large assets have unique risks. High net worth insurance is a customized policy type that protects clients from these risks—from home insurance to travel insurance and much more.

What is Considered High Net Worth?

According to Forbes Advisor, people are considered high net worth individuals when they own liquid assets that are valued at around $1 million or more. High net worth individuals often have valuable possessions such as homes, art, wine collections, vintage cars, etc. and would benefit from a high net worth insurance policy that will provide unique coverage for these items in case of theft, loss, or damage.

How Does High Net Worth Insurance Work?

Despite the name, high net worth insurance isn’t simply a variation on ordinary personal insurance with higher coverage limits and higher premiums. Instead, it’s about recognizing that people with large assets have unique needs.

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. This usually includes coverage for your home(s), vehicles, travel, and even life insurance.

The solution is custom-designed for your particular lifestyle, assets, and risks rather than simply combining “off-the-shelf” policy terms and conditions.

For example, you may want to look for coverage that ensures you’ll be able to repair a damaged vehicle using the repair shop of your choice and factory-original parts. You may also want to have your vehicle insured for the “agreed value” rather than the market value. This means that you and the insurance company agree to the payout amount upfront in the event of a total loss claim.

What Does High Net Worth Insurance Cover?

There are various unique risks to keep in mind when considering high net worth insurance as it provides coverage that you won’t find with a standard home or auto insurance policy. A couple of examples include umbrella insurance and travel insurance. 

Umbrella Insurance Policy 

An umbrella insurance policy is beneficial for high-net-worth individuals because it provides liability coverage that extends beyond the basic home and car insurance needs. For example, it can provide coverage for various lawsuits. Individuals with a high net worth are vulnerable to more lawsuits simply because they are wealthy and there’s “something” to sue. Lawsuits could be brought because your teenager is at fault in an accident, your dog bites someone, your neighbor slips on your steps, and so on. A personal umbrella insurance policy can provide millions of dollars of coverage for liabilities that a high net worth individual might face. 

Travel Insurance Policy 

A travel insurance policy for high net worth individuals will include coverage that extends beyond the standard travel insurance policy that anyone can purchase. A high net worth travel insurance policy might cover valuable jewelry and other possessions you are traveling with or other assets like a boat, yacht, holiday home, ski equipment, golf equipment, etc. 

Of course, there are other unique risks to consider, as well. Household help (such as nannies or landscaping crews), identity theft, international travel, and more all have specialized insurance solutions to protect your wealth.

Request High Net Worth Insurance Quote

Of course, there are other unique risks to consider, as well. Household help (such as nannies or landscaping crews), identity theft, international travel, and more all have specialized insurance solutions to protect your wealth.

As an independent agency, we offer multiple options at competitive prices. If you think you need a high net worth insurance policy, don’t hesitate to contact us today.

Contact Information

480-948-8008
sayhello@azcalinsurance.com