Travel Coverage
Most high net-worth policies provide annual travel insurance covering cancellation charges, medical expenses abroad, and costs due to delayed departures and missing luggage. Exclusions typically include travel against medical advice, age restrictions, and incidents arising from dangerous activities.
Additional Coverage Options
In addition to the standard offerings, high net-worth policies include a variety of additional coverage options:
Buildings Coverage
High net-worth policies define 'buildings' as the primary residence and any outbuildings, garages, swimming pools, tennis courts, and other structures on the property. These policies extend coverage beyond conventional limits to include additions and amenities.
Contents Coverage
Contents refer to personal items, furniture, and other home belongings. High net-worth policies typically offer global coverage, ensuring all items are protected worldwide. This is particularly appealing for those with multiple homes or frequent travelers. Customers benefit from comprehensive worldwide content coverage, eliminating the need for various policies.
Valuables Coverage
Policies may cover valuables such as gold, jewelry, and furs under contents coverage. Insurers also offer distinct valuables coverage for items like fine art, antiques, and collectibles. Extensions can include protection for newly acquired assets, pairs and sets, and increased insured amounts due to an artist's passing. Exclusions may involve damage to stamps and coins or losses during transport.
Liabilities Coverage
Homeowners or employers of domestic staff face potential legal liabilities. Liabilities insurance protects against claims related to property or staff. Legal expense coverage helps offset the costs of pursuing claims, such as those resulting from contract disputes or accidents causing severe injury or death.
Travel Coverage
High net-worth policies typically offer annual travel insurance, covering cancellation charges, medical expenses abroad, and costs due to delayed departures and missing luggage. Exclusions include travel against medical advice, age restrictions, and incidents arising from dangerous activities.
Additional Coverage Options
High net-worth policies often include:
The main advantages of high net-worth insurance from Hecht-Stout Insurance Agency in Illinois include:
High net-worth insurance is ideal for individuals with valuable possessions they want to protect. Although more expensive than standard insurance, the comprehensive coverage makes it worth the investment. Contact Hecht-Stout Insurance Agency today in Dunlap to explore our excellent options and ensure your valuables are safeguarded.
