Personal Insurance for Successful Individuals and Families
For successful individuals with significant assets, properly insuring against risk requires more than a few minutes filling out an online form. You need an independent broker that understands your exposures and can provide the best insurance solutions.
You have amassed substantial assets over your lifetime. Now, you want to protect them with the right insurance. But you and your family may have risks that traditional insurance companies aren’t equipped to cover.
- Your primary home may have unique architectural components and custom finishes.
- You might own a secondary or seasonal residence and/or rental properties.
- Your assets may include luxury vehicles, and possibly a boat or other watercraft.
- Perhaps you own jewelry, fine arts, antiques, or an extensive wine collection.
The higher your net worth and the more active your lifestyle, the greater your exposure. You need personalized advice, customized insurance solutions, and a strong advocate if you experience a loss.
That is why successful families and individuals and those with emerging wealth turn to B. F. Saul Insurance.
We understand the unique risks you face, and we help reduce them with customized insurance solutions. Our team has deep relationships with insurers that cater to the higher end of the market, so we have access to the specialized policies you need. There is no better partner to help safeguard what you value and deliver the peace of mind you deserve.
Learn about the top three risks for successful individuals and families.
Discover How We Help High-Net-Worth Clients Reduce Risk
Automobiles
Comprehensive auto coverage is a cornerstone of your personal insurance policies, whether you own a traditional vehicle, motorcycle, motorhome, and/or all-terrain vehicle.
Cyber Liability
With the right cyber liability insurance solution in place, you can reduce your exposure to this increasingly prevalent risk.
Domestic Staff
Proper domestic staff insurance coverage transfers the financial risk of hiring domestic employees, reducing your exposure.
Excess Liability / Personal Umbrella
A personal umbrella liability insurance policy provides robust coverage and high limits that supplement your primary policies, offering you greater protection.
Flood / Excess Flood
The right insurance policy will protect your property from damage due to the increasing incidence of floods.
Homes & Rental Properties
When you buy a secondary or seasonal home, the process and cost of securing the right homeowner’s coverage can be quite different than insuring a primary home. A luxury, custom home has unique insurance needs, too.
Valuable Articles
With a customized valuable assets insurance policy, you can be sure your possessions are protected from loss.
Watercraft & Recreational Vehicles
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The right coverage can protect your valuable watercraft from a wide range of exposures, reducing your financial risk.
Q: How much umbrella liability coverage do I need?
A: Often more than you think. Standard auto and homeowner liability limits usually aren’t enough in today’s legal environment. Umbrella coverage adds millions in extra protection, with $5 million now considered the new baseline for many families. Your advisor will recommend limits based on your assets, lifestyle, and future earnings.
Q: Why is my home insured for more than its market value?
A: Insurance is based on replacement cost, not market value. That’s what it would cost to rebuild your home with today’s labor and material prices, including high-end finishes and custom features. Guaranteed replacement cost coverage ensures you won’t be left underinsured.
Q: Does my homeowner’s policy cover events like weddings or fundraisers hosted at my home?
A: Not fully. Hosting large events increases liability risk, and homeowner’s policies typically cap liability at $500,000. An umbrella policy provides the additional protection you need when entertaining.
Q: Does my homeowner’s policy cover short-term rentals?
A: Standard policies don’t cover homes rented through Airbnb or VRBO. Be sure to tell us how your property is used so we can secure the right coverage and adjust your umbrella liability limits.
Q: Do I need flood insurance if I don’t live near water?
A: Yes—if it rains, it can flood. Standard homeowner’s policies exclude flood damage, and severe weather has made flooding more common even outside high-risk zones. We recommend flood insurance for every home.
Q: Does my homeowner’s policy cover valuables like expensive handbags or jewelry?
A: Most homeowner’s policies have low limits for valuables like jewelry, silver, art, sports memorabilia, and wine collections. Many carriers offer the option to itemize each piece and specify its value (what’s known as a scheduled approach) or buy one total coverage amount for valuables without itemizing them (a blanket approach).
Q: We have good coverage for our homes, autos, and valuables, and we have an umbrella liability policy. What other coverages should high-net-worth families consider?
A: Consider worker’s compensation for domestic staff, employment practices liability for wrongful termination or harassment claims, cyber insurance for protection against identity theft and fraud, and travel insurance for trip cancellations, illness, or lost luggage.
Q: Should young drivers have their own auto policy?
A: Not always. Keeping teens and young adults on the family policy with higher umbrella limits often provides better protection for both current assets and future earnings.
Keep up with the insurance industry and understand how emerging exposures might impact your portfolio.