Delaware high net worth insurance is meant to protect individuals in a certain financial category, but how do you know if you fit into that category? This quick guide will help you determine whether you would benefit from purchasing such a policy or if your current insurance is enough.
High net worth insurance most often covers large pieces of property such as high-end homes and cars or valuable collections of art or jewelry. If you have a hobby that uses valuable equipment, such as photography or coin collecting, you may also consider insuring those pieces.
How It Protects You
Naturally, Delaware high net worth insurance will cover your property should it fall victim to fire, flood, earthquake or other natural disasters. Because your property is so valuable, it offers additional protection. Your policy will cover you in case something accidentally breaks or is stolen by someone, including any paid workers in your home.
A high net worth policy is also beneficial when it comes to your estate taxes. While estate taxes are typically 50 percent of a person’s worth, they can run even higher. However, if you have a carefully cataloged inventory of your property and properly structured life insurance, you could save a substantial amount of money.
Never trust your Delaware high net worth insurance to just any agency. Research first to ensure you purchase a policy from a company that is experienced in representing wealthy clients.