FAQ | Bennett & Porter Private Client

What is private client insurance?

Standard policies are affordable for most people, but they can leave serious coverage gaps for high-net-worth individuals and families.

Private client insurance brings multiple areas of coverage into a comprehensive insurance solution that can be customized based on your unique needs. Your assets are covered by a single insurer, so you will only pay one insurance premium. Plus, if one policy is exhausted, another may cover the excess.

What does private client insurance cover?

Private client insurance is more than just an upgrade from standard individual policies in terms of coverage limits and premiums. It's all about catering to the specific requirements of those with substantial financial resources.

Instead of putting together generic policy provisions, private client insurance is tailored to your individual needs, assets, and risks. These policies are typically used to cover high-value homes, vehicles, jewelry, art collections, antiques, and other collectibles, but can also provide protection against unique risks such as travel, cyber security, events, directors and officers, excess liability and more.

Do I need private client insurance?

Standard policies are affordable for most people, but they can leave serious coverage gaps for high-net-worth individuals and families.

Private client insurance is essential for those with a net worth over 2 million, a home value over 1 million, owners of luxury or exotice vehicles, or valuables that exceed the limits that most insurance companies are willing to cover. As your wealth grows, you'll need private client insurance to keep, protect, and maintain your assets.

What is high-value home insurance?

High-value homeowner's insurance takes into account every aspect of opulent homes and offers unmatched protection for reconstruction in the event of disaster. High-value home insurance is something to consider if the cost to rebuild your home is $1 million or more.

Bennett & Porter Private Client high-value homeowners insurance can be customized to include the following coverages:

Guaranteed Replacement
Cyber Liability / Cyber Bullying Insurance
Damage Prevention
Household Staff Employee Liability
Identity Theft
Personal Injury
Severe Weather/ Disaster Damage
Valuable Articles

What is high-value auto insurance?

The coverage provided by high-value auto insurance far exceeds that of a regular auto policy. In addition to protecting the vehicles you own, a custom-built policy offers comprehensive liability protection and coverage for common ancillary risks that you might not have considered otherwise.

Bennett & Porter Private Client high-value auto insurance boasts coverage far above industry standards and can be tailored to cover luxury cars, antique and collector cars, motorcycles, ATVs, and even golf carts all in one policy.

What is specialty insurance and who is it for?

Specialty insurance provides coverage for properties, assets, and risks that are typically not included in a standard insurance policy. High-net-worth individuals need specialty insurance to safeguard themselves and their wealth from the unique risks brought about by their distinctive lifestyles.

Bennett & Porter Private Client designs tailored protection for:

Aviation, Boats, & Yachts,
Equine, Farm, & Ranch
Events
Family Office
Kidnap & Ransom
Pets

Why is excess liability coverage important?

Excess liability insurance covers claims that go beyond the limits of a primary insurance policy. It takes effect when the underlying limit of your primary insurance (whether it’s home, auto, watercraft, etc.) has been exhausted or is not enough to cover the cost of an unexpected lawsuit or accident.

A personal umbrella policy is a form of excess liability coverage that covers claims exceeding the limits of the underlying policy while also extending coverage to include losses beyond what is outlined in the original policy.

Do you need insurance for a Mexico trip?

Whether you're headed down to Mexico for business or pleasure, bringing a car across the border requires a special type of insurance. Car insurance policies purchased in the United States are not valid in Mexico and will not apply in the event of an accident.

Inadequate travel insurance can put your assets and financial security at risk. The Bennett & Porter Private Client team is well-versed in the intricacies of risk management and asset protection. We can help you secure the next-level Mexico travel insurance protection you deserve.

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