Home Structure

Also, standard policies will often not pay for losses due to breaks or fractures of fragile items if, for instance, a precious statue or vase is accidentally knocked over. Such losses are typically covered by policies from HNW-market carriers. These carriers also provide the ability to cover groups of items, such as a wine or […]

Valuable Collections

86 Percent Said Likely Underinsured Families with substantial assets often hold a significant portion of their total wealth in jewelry, art, wine and other valuable collections. In an ACE study about collections among households with at least $5 million in investable assets, 94 percent claimed to be collectors.5 Of those, 69 percent had collections worth […]

Liability Concerns

The danger from the uninsured and underinsured goes beyond auto accidents. Consider a child flying off a neighbor’s trampoline and suffering a permanent brain injury requiring lifelong care. The expenses for medical treatment and care could amount to millions of dollars. But most homeowners have no more than $300,000 to $500,000 in liability coverage. Without […]


Disputes Despite these high profile cases, 40 percent of wealthy households have less than $5 million in umbrella liability coverage, including 21 percent who have none at all. Umbrella coverage is a critical component of an overall personal insurance program because the liability coverage in home and auto policies rarely exceeds $500,000. When those limits […]

Guarding Against Significant Loss

Guarding Against Significant Loss umbrella liability coverage and coverage for the home structure traded places as the top contender. Other types of liability coverage — such as uninsured/underinsured liability, worker’s compensation, and employment practices liability — also figured prominently when lumped together. To help families and their advisors understand the dynamics and dangers of the […]

Guarding Against Significant Loss

Guarding Against Significant Loss More agents in 2012 reported that HNW families insured by mass-market carriers were likely underinsured for a wide variety of risks, many of them serious. The survey asked about 21 types of insurance coverage, and the average percent of agents reporting each as likely underinsured was 58.3 percent, up from 54.9 […]

Savings Opportunities

Savings Opportunities home, auto, valuables, umbrella liability, and watercraft policies. Additionally, the policies often can be written as part of one package with common term dates and one consolidated bill, saving the client time as well as money. Loss Prevention Credits 50 Percent Said Likely Overlooked Agents reported that many families with fine homes, valuable […]

Savings Opportunities

Savings Opportunities come to $18,900 over 21 years, far outweighing the additional $2,000 paid at the time of the one loss. As the table below shows, the homeowner would come out ahead even if a loss occurred in the third year. The savings can be even greater for a higher value home and a higher […]

Savings Opportunities

Savings Opportunities Compared to 2010, more agents in 2012 reported that families insured by mass-market carriers were likely missing a variety of savings opportunities. The survey asked about 11 savings opportunities, and the average percent of agents reporting each savings opportunity as likely missed in 2012 was nearly 28 percent, an almost 6-point increase. Responses […]

A Renewed Focus on Proper Protection

<h1>A Renewed Focus on Proper Protection</h1> Families with substantial assets overpay to be underinsured primarily because they fail to adjust their personal insurance program as they build wealth. Faced with the complexity of insurance policy contracts and often reluctant to think about bad things that could happen, these families leave their insurance relatively unchanged year […]

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