Personal Insurance For High Net Worth Individuals
Whidbey Island Personal Insurance; A safety Net For High Net Worth People
There are many benefits to having been blessed with wealth. You may have a vacation home, boat, plane, or get to travel the world. But individuals with high net worth have increased risks that need to be managed. Whidbey Island Personal insurance policies created for high net worth individuals can have much higher limits than average policies, providing the adequate coverage high net worth individuals need for more expensive homes and automobiles, as well as valuable collections, yachts and aviation.
Many “standard” personal insurance policies have limitations that create the need for a different personal insurance approach.
Personal Insurance Risks For High Net Worth Individuals
· Foreign travel
· Expensive art or gun collections
· Expensive jewelry
· Private aviation
· A greater amount of cash in the home
· Expensive or custom vehicles
· Watercraft that are not covered under a normal policy
· Hired staff
· Custom homes with unique or one of a kind construction
· Homes in foreign countries
· Involvement in charities that create new risks
· Custom furniture or other personal items
· Imported fixtures
Affluent individuals often choose a personal umbrella policy, which provides expanded coverage and increased protection of their assets beyond what is provided under homeowner’s and auto insurance policies.
Craven Insurance is a family owned, locally operated independent insurance agent and broker. As an independent insurance agent, we are able to provide the best possible insurance products and prices from a number of different insurance companies. We love our local Washington state communities in Whidbey Island and Lake Stevens, but we’re happy to provide coverage for you no matter where you are