Opportunity to Bring Value in High-Net-Worth Space
Expertise and relationship-building are especially important when securing insurance coverage for high-net-worth individuals. In the dynamic high-net-worth (HNW) homeowners insurance space, independent agents and brokers can stand out with their advice and guidance.
High-value home insurance is designed for high-net-worth individuals with luxury homes and expensive valuables and assets. Unlike traditional homeowners coverage, high-value policies can offer guaranteed replacement costs, non-depreciated cash settlement options, deductible waivers, broad liability coverage and flexible coverage limits.
“It’s a market that greatly benefits from agents and brokers,” said Ana Robic, division president of Personal Risk Services at Chubb. “The advice and counsel, really, of an independent agent, to ensure that a high-net-worth individual and family has the coverages they need to protect their uniquely valuable possessions. So, it’s a spot in the marketplace that really requires that intermediary.”