If you have a vehicle then you know that insurance is a necessity. What if you own a valuable vehicle? Do you know if your auto insurance will cover the entire value of your vehicle if you are in an accident?
A lot of traditional insurance companies have set limits on the payout of claims. Someone with valuable property to protect may need to seek Nationwide Private Client insurance.
What is Nationwide Private Client Insurance?
Nationwide Private Client is an insurance company that specializes in providing coverage for high net worth individuals. They provide higher limits for property damage and liability coverage. The amounts can be much higher than traditional insurances. Many insurance policies may have a $100,000 limit for insurance claims.
Private Client insurance limits can be as much as 10 million dollars or more. They also allow for different insurance coverages to work in conjunction together. This allows for extended coverage that is seamless when filing a claim.
Who Needs Private Client Insurance?
Private client insurance is a specialized form of insurance. It is not offered to everyone; it is geared toward higher ends of the auto insurance market.
Traditional insurance sources typically have coverage limitations that will be important for high-end automobiles. Below are some common situations that require private client insurance.
High-Value Property
If you have a high valued vehicle or often travel with high-value property, then you may need extra coverage. Insurance policies have limits on the amount you can be awarded in a claim.
If your property is over the limit allowed in traditional plans you may need to seek out private client insurance. With private client policies, you can have very high limits that can cover your property.
High Profile Person
Private Client Insurance is also necessary if you are a high profile person. Celebrities, politicians, or other well-known people need more liability coverage. If you are in an accident the person may seek more in damages if they know you are a high profile person.
It isn’t right but nothing is stopping a person from filing a civil lawsuit against you. It’s best to choose insurance that has higher levels of coverage.
Benefits of Private Client Insurance
There are more benefits than extended coverage. Private client insurance is high-end insurance that carries high-end benefits. The policies offer a lot of extras that make the use of these policies worth the expense and insurance companies like Nationwide Private Client understand the importance of handling claims in a white glove fashion.
Combining Insurances
Private client insurances can provide a lot of coverage, but you may need more. The benefit of using private client insurance is that you can combine it with extended liability insurances. This can provide you liability coverage up to $100 million.
Using the umbrella benefits allows you to get complete coverage. When your insurance policy coverage runs out your extra liability will kick in. It’s easy and seamless and an added benefit.
Insurance All Property
With private client insurance, you can include all of your property into one policy. If you have several cars or a fleet of cars you can create one policy that covers each one. You can put more than one vehicle on a traditional policy, but private client insurance can handle larger numbers of vehicles.
You can also combine this with high-end home insurance and valuables like art or jewelry. Creating a comprehensive plan that protects your property in full.
Personalized
Most traditional policies offer the same coverage to everyone who seeks a policy. There may be different levels but everyone with that policy has the same coverage. Private client insurance allows you to have a customized experience. You can work with an agent to tailor your policy to fit your needs and get the right coverage. You will be able to pay for what you need.
Premier Service
If you are getting high-end insurance, you expect high-end service. Your agent will be more like a concierge service. You should have a highly individualized service that can meet your needs. Your agent will assess your risks and find the perfect services for you.
If you need help with anything, they will be available to help you. They offer premier roadside assistance programs as well if you break down or have a problem on the road. These are great perks for your coverage.
How Do You Get Private Client Insurance?
Private Client insurance is much more specialized so you will need a Private Client focused agency to get it. Finding the perfect broker is important so you get the best services. There are some key things to consider when choosing a broker.
Expertise
You want a broker who knows the industry and what they are doing. You should feel confident they know what coverages are best for you.
Experience
Look for a broker that has a lot of experience in private client insurance policies. Someone who knows the industry and what to expect. Someone with experience will know what services you need and the best way to get your coverage.
Reputation
Seek out a broker that has a good reputation in the industry. Ask your friends and family who they use. Do some research on different policies and find the best one for you. Having a good reputation speaks well to the quality of the broker.
Getting Started with Private Client Insurance
Nationwide Private Client insurance policies are a high-end service. To get started with finding a policy do some research on what is available and brokers in your area. Spend time looking for the perfect broker to get the coverage you need. Find the perfect broker is the first step in finding a private client insurance policy.
For more information on private client insurance and how we can help, give us a call today.