Protect Your Legacy

High Net Worth Insurance

Smart Solutions for Those Who Have More to Protect

You’re not living a standard lifestyle, so you need more than standard insurance – and Phelan Insurance Agency is a leading provider of superior coverage and service.

Our specialists have the knowledge and expertise to respond to your unique needs. We offer concierge personal risk management – a portfolio of products designed for your specific mix of assets.

Homeowners Insurance

For high value homes, multiple properties and coastal properties

Personal Excess Liability

To provide financial protection against claims for bodily injury, personal injury or property damage

Valuable Articles

For your wine, jewelry, art, gun, and other collections that may fluctuate in value

Vehicle Insurance

For collector and recreational cars, as well as motorcycles, ATVs, boats and motor homes

Professional Liability

Protect your business and its operations from unexpected legal action

Life Insurance

There are more benefits to life insurance than income protection

High Net Worth Insurance FAQ

When your professional and private interests grow, so do your risks. You have complex financial protection issues that require the assistance of seasoned experts and an investment in high net worth insurance services.

Financial advisors and wealth managers typically use three tiers to classify net worth:

  • HNWI: High Net Worth Individual (liquid assets valued $1 – $5 million)
  • VHNWI: Very High Net Worth Individual (liquid assets valued $5 – $30 million)
  • UHNWI: Ultra High Net Worth Individual (liquid assets valued over $30 million)

Despite the name, high net worth insurance isn’t simply a variation on ordinary personal insurance with higher coverage limits and higher premiums. Instead, it’s about recognizing that people with large assets have unique needs.

This usually includes coverage for your home(s), vehicles, travel, and even life insurance. The solution is custom-designed for your particular lifestyle, assets, and risks rather than simply combining “off-the-shelf” policy terms and conditions.

To insurers, a high-value home is a residential house or condo that has a replacement cost of $750,000 or more.

Most homeowners insurance comes with a limited amount of protection for valuable items.

For your most precious items that exceed this limit, a scheduled personal property endorsement can be added to your existing home policy can help make sure your prized possessions are protected.

High-net worth households may require additional insurance coverages to meet complex needs, including:

  • Umbrella
  • Valuable items
  • Watercraft/RV
  • Kidnapping & Ransom
  • Cyber Liability