High net worth homeowners face a range of liability exposures. Most savvy owners of high value homes are attentive to securing adequate protection for the property that assures replacement cost coverage in the aftermath of loss.
Personal possessions contribute to the asset wealth of high net worth individuals and should be properly protected within a customized homeowner policy. Personal valuables, collections and specialty items carry monetary values that can fluctuate and change considerably based on influencing market dynamics.
For high value homeowners, their home may be their most significant asset. If the property is not adequately insured, the individual’s net worth could be severely reduced in the event of a loss.