High-Net-Worth Clients – Ask Yourself This…

If I had a significant property loss at my Charleston or Mount Pleasant home, would I have enough coverage to fully replace everything to pre-loss conditions?  This includes custom high-end finishes, collections, antiques, jewelry, valuables, fine art and wines.  Even if you have these items insured, when was the last time an appraisal was completed to address today’s market values?  Additionally, does your insurance company know how to adjust for the complexity and uniqueness of your situation?

What about your automobiles. If a loss occurred, are you going receive Actual Cash Value (ACV) as most standard insurance companies provide, or are you going to receive an Agreed Value settlement as specialty High-Net-Worth carriers provide?  This can be the difference of tens of thousands of dollars.

What about your lifestyle.  Do your liability limits match your exposures?  Many things can change your liability exposure.  For instance, do you travel often? Do you sit on a board of directors for a non-profit in Charleston, Mount Pleasant or somewhere else? Do you have teenage driver?  Are you a business owner?  Are you in the spotlight?  Do you have domestic staff?  More times than not, many Charleston and Mount Pleasant High-Net-Worth individuals are drastically underinsured for the exposures they face day-to-day in this highly litigious society we live in.  Simply put, having a $5 million umbrella policy you once thought was enough to protect your family and assets needs to be a starting point.

What about Family Offices, Trusts, and LLC’s.  How are you addressing these exposures?  Without a properly structured insurance policy, you, your family, and your assets could be heavily exposed to uninsured or underinsured losses.

Does your current insurance advisor work with your wealth advisor, legal advisor and tax advisor as a cohesive unit so nothing gets overlooked?  This well rounded, synergistic approach allows for a peace of mind knowing that you’re being properly taken care of by people you trust.

If you have questions or concerns related to the above or are not sure where to start then maybe it is time to have a one-on-one complementary consultation with a Mappus Insurance Private Client Advisor to see where you and your insurance program stands against your exposures and others in Charleston, Mount Pleasant and worldwide.

As a partner with the Mappus Insurance Private Client Group you can be assured to be treated with the highest level of local service, commitment, dedication and professionalism and to maintain this pledge we only take on a very few select number of new Private Clients each year as we value each individual relationship.

Interested in seeing how we can help you protect your family and assets?  Contact us by completing the form to the right or call our office at 843.763.4200