Insuring High Net Worth Assets in Great Falls
Great Falls, Montana, has a low cost of living and a low crime rate, but when working with individuals with a high net worth, nothing can be taken for granted. Asset protection is crucial, ranging from simple financial safeguards to comprehensive insurance plans. Great Falls is a growing area, and its high-end housing is attracting a special clientele. It’s important to have these homes, their contents and other assets of high net worth individuals covered by comprehensive high net worth insurance in Great Falls.
There are plenty of opportunities to invest in land and development in the Great Falls area, particularly if you’re interested in owning a ranch, vacation property or other income-generating property. In some areas around the state, home values have increased from an average of $500,000 to $750,000. Wealthy individuals are flocking to the state for the gorgeous views, and real estate costs aren’t a bother to those with a high net worth.
Many of those moving into Montana are investing in entrepreneurial ventures, causing the state’s economy to be the seventh-fasting growing in the nation. In spite of the semi-remote location of Great Falls, high net worth individuals face a number of risks and potential losses. The minimum of $1 million in cash or assets that earn them a spot in this special category could easily be lost to property damage, theft, cyberattacks and more. Protection strategies include carrying enough insurance for each asset as well as continually conducting risk assessments.
Assets Protected by High Net Worth Insurance in Great Falls
High net worth individuals typically have more than $1 million in liquid assets. It doesn’t have to be cash, but it’s usually property that can easily be converted into cash. These assets can include:
- High-value homes and automobiles
- Commercial real estate
- Artwork
- Jewelry
- Wine collections
- Investments, stocks or bonds
A standard homeowner’s or auto insurance policy doesn't typically have the financial limits needed to cover repairs or replacement to a property or vehicle, nor protect a valuable art collection. Our brokers at HUB know the importance of special coverage for every high value asset.
Coverage Available for High Net Worth Individuals
When you work with HUB International, we don’t just put out a generic insurance package. We help manage your risks by thoroughly analyzing the situation and tailoring the insurance coverage to the risks present or anticipated.
Each step of the process is focused on high-level risk analysis and the comprehensive protection of both the client's assets and lifestyle. Our team offers crisis-response services with our high net worth insurance in Great Falls for threats of violence, kidnapping or international evacuation.
Others services through HUB include:
- Home and cyber security assessments
- Identify theft protection
- Travel insurance
- Health, life and supplemental medical insurance
Working with a HUB broker gives you the insight to ensure each asset gets the insurance coverage needed. This brings peace of mind when disaster strikes.