When you have a high net worth, it’s important to think about all the ways you can be exposed to liability and damages. Your assets are more valuable and you may have more at stake if something goes wrong. That’s why it’s important to work with an insurance company that understands your needs and can provide you with the coverage you need to protect yourself and your family. As your net worth increases, you need to be increasingly mindful of how you’re protecting your assets. Your home, vacation homes, rental properties, luxury items, and boats all require different insurance policies. In this blog post, we will discuss some of the things you need to consider when it comes to high end assets and the insurance coverage needed.
Umbrella Coverage
The more lavish a lifestyle you live and owning more designer brands increases the possibility for liability and theft related issues. We understand how important it is to have an Umbrella Policy in place to safeguard assets in the event of a problem. You may think you are already adequately covered because you have insurance on your home, auto, and watercraft. Unfortunately, most people don’t realize that their homeowner’s policy has liability limits. The same goes for auto and watercraft policies. That’s why it’s important to have an Umbrella Policy in place. An Umbrella Policy can provide you with the extra coverage you need to protect your assets.
Cyber Security and Privacy Concerns
As your net worth increases, so does the importance of protecting your information. With more assets comes more responsibility. That’s why it’s important to have a cyber security insurance and a privacy plan in place. LG Insurance can help you create a plan that will protect your information and keep you safe from identity theft, data breaches, and other cyber security threats.
Homes, Vacation Homes & Rental Properties
If you have a high net worth, chances are you own more than one home. You may have a primary residence, a vacation home, and/or rental properties. It’s important to make sure each of these homes is properly protected with insurance. Many people don’t realize that their homeowner’s policy only covers their primary residence. If you have a vacation home or rental property, you need to make sure you have the proper coverage in place. LG Insurance can help you find the right policy to protect your homes and your assets.These are just a few of the things you need to consider when it comes to insurance. As you can see, there is a lot to think about. But don’t worry, LG Insurance is here to help. We can provide you with the coverage you need to protect your assets and your family. Contact us today to learn more!
New Construction
LG Insurance specializes in insuring properties in affluent areas where new construction is more frequent. Remodeling and additions that happen on such homes can create new exposures that many broad line insurance companies may not be aware of, leaving the home and it’s occupants vulnerable. Insurance for new construction on your home should be a top priority to make sure that you and your family are fully protected.
Luxury Items
As your net worth increases, you may find yourself acquiring more luxury items. These items can include things like jewelry, art, collectibles, and more. It’s important to make sure these items are properly insured. Many homeowner’s policies have limits on the amount of coverage they provide for luxury items. LG Insurance can help you find the right policy to insure your luxury items.
Boat, Yacht and Personal Watercraft Insurance
If you enjoy spending time on the water, you may own a boat, yacht, or personal watercraft. It’s important to make sure these items are properly insured. Many people are more familiar with their auto or homeowner’s policies – but are they as familiar with the coverage, or gaps in coverage, when it comes to their boat, yacht, or personal watercraft? LG Insurance can help you find the right policy to insure your watercraft.These are just a few of the things you need to consider when it comes to insurance. Liability coverage for your guests and other boaters is also something to think about. LG Insurance can help you find the right policy to protect you and your family. Contact us today to learn more!
As you can see, there is a lot to think about. But don’t worry, LG Insurance is here to help. We can provide you with the coverage you need to protect your assets and your family.
Contact us today to learn more! LG Insurance has the coverage you need to protect your assets and your family.
