High Net Worth Insurance vs Regular Insurance — what's better?

High net worth insurance vs. regular insurance

What's better and Why?

We get this question all the time….

What is High-Net-Worth-Insurance, and why is it better? Is it even better than “regular insurance”? What exactly defines “regular” insurance anyway?

So many questions. Not. enough. time. Ha! 

The answer to this question is both simple, but can also be complex depending on who is explaining it. Since we are experts in the High-Net-Worth-Insurance arena, we’ll give you both definitions. 

Sound good?

Layman's Terms Definition:

High-Net-Worth-Insurance is different from regular insurance in that is a much more robust insurance contractHigh-Net-Worth-Insurance covers more than regular insurance policies, meaning it doesn’t exclude certain things that regular insurance does.

High-Net-Worth-Insurance typically also offers significantly higher coverage limits. Where regular insurance may limit certain things, High-Net-Worth-Insurance does not.

Why is that important? 

Because if you’re someone who is considered to be a High-Net-Worth individual, you probably have some high-ticket possessions such as homes, cars, jewelry, water-crafts, collectibles, and so on.

It’s important that you’re not walking around with a basic Allstate or State Farm policy that has an internal limit of $500k on your house, and $100k on your Lamborghini. Make sense?

For most High-Net-Worth families, regular insurance is simply not adequate, and typically leaves you open to major exposures that you may not even be aware of.

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