Affordable peace of mind
The problem for high-net-worth individuals is that a typical umbrella policy is often capped at $1 or $5 million, and that may not be enough protection. Fortunately, there is a select group of companies that offer specialized personal umbrella policies that have limits as high as $100 million – and they can be customized specifically to your situation.
Why you need an umbrella
As a high-net-worth individual, you have more liability risks than most individuals, since you are more likely to:
• Hold a charity function or other event at home
• Serve on boards of directors
• Have more “toys” such as recreational vehicles and watercraft
• Employ staff at your home
• Have rental properties
Threats keeping wealthy individuals awake at night
Can you identify with any of these?
• 47% – Auto accident
• 31% – A household worker or guest injured on your property
• 22% – Being accused of financial fraud in connection with a charity
• 17% – Being accused of sexual harassment, abuse, or discrimination
• 15% – A dispute with a neighbor
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