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High Net Worth Insurance - Consider the Worst Case

Are all home owner insurance policies the same?  Although most large insurance companies would like you to think so, all policies are NOT the same.  This is a particularly important issue for high net worth individuals with high value homes. 

Why?  Because the average home owner policy does not adequately protect against the worst case scenarios that surpass the standard liability limit, which is $500,000 in many cases.  When unfortunate accidents happen to someone with a high net worth, like pool accidents, personal injury or property damage, general policies might not cover all the costs associated.

Example of a High Value Home

That is where Group Excess Coverage can really help your high net worth clients.  This is a great opportunity for you to get a group of professionals (doctors, lawyers, etc.) together under one umbrella policy, eliminate gaps in coverage, and save them money.  The liability limits on these umbrella policies can be as high as $50 million. 

Like it or not, high net worth individuals are much more likely to be the victims of lawsuits, frivolous or not.  These group excess coverage plans, like Chartis’ or Chubb’s Group Personal Excess Liability Insurance policies, save your clients money and protect them against the worst case scenarios. 

Learn more about these types of policies at Stuckey & Company’s personal insurance site.

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