High Net Worth Home Insurance
Posted on Sunday, August 14th, 2011
The aftermath of a fire or natural disaster, whether hurricane, snow storm or earthquake, is a demoralizing and spirit-breaking experience but, it is especially demoralizing and expensive, if the victim’s personal losses are heavy and the individual does not have high net worth home insurance to cover the loss.
Loosely defined, a high net worth person is usually a person with an annual income over £100,000 and personal assets of £200,000 or more including valuable personal property in the home. Valuable personal assets in the home could include antiques, artwork, furniture, rugs, computers and other electroncis, data, bond and stock certificates, a prized collection of vintage wine or expensive cars in a garage.
Unfortunately, for the high net worth individual, if disaster strikes or a theft occurs, the regular home owner insurance policy may not fully cover and may not even cover some of the lost items. A high net worth individual, with a lot of valuable person porperty in the home, is wise and financially prudent to have a high net worth home insurance policy that will cover his losses.
On some valuable items, such as expensive jewelry and art, an appraisal may have to be done but, the peace of mind from this insurance coverage is well-worth it.