High Net Worth Insurance in Oakville
Customized Insurance Solutions to Celebrate Success
In Oakville, individuals with high net worth lead a luxurious lifestyle that is distinct. It goes to show the fruits of their years of success. However, success and luxury come with more risks than the norm typically does. At Affiliated, we accommodate your lifestyle, providing more expansive solutions to protect your valuable assets and possessions, from your high-value home to your collector cars.
We offer high net worth insurance that protects your luxury items. We also provide different types of insurance, like personal insurance, commercial insurance, travel insurance, and even life insurance solutions for ultimate protection from unexpected events.
GET A QUOTEWhy Choose Affiliated Insurance in Oakville?
Industry-Leading Tools
As an independent insurance broker, we utilize the best tools in the industry to deliver top-tier service to our clients. Our tools allow us to find your insurance gaps and fill them to provide you with the utmost protection. We also have a 24/7 online self-service portal where you can file claims and easily manage your insurance products on the go.
Personalized Service
Our experienced professionals know that no clients have the same insurance needs. We tailor each policy to support your own achievements. We can meet you where you are with comprehensive, customized professional services that secure your peace of mind with the best coverage and a competitive price.
Industry-Leading Tools
Our customer support is designed to have your back every step of the way. Whenever you need to contact us, our team is ready to respond to you on your preferred method of communication, be it email, phone, or live chat. We understand that your time is valuable, so you can expect a quick response with efficiency and professionalism.
Who is a High Net Worth Individual?
An individual with more than $1 million in liquid assets is considered a high-net-worth individual. Liquid assets mean investable, like cash, money market instruments, or marketable securities. High-net-worth individuals typically possess multiple homes, diversified investment profiles, and luxury assets that include fine art, jewelry, collectibles, and collector cars. Their luxury homes have pools, guest houses, and hardscape.
With a plethora of assets to protect, high-net-worth individuals require specialized insurance solutions, and at Affiliated Insurance, we provide them. Get a quote now!
What Are the Benefits of High Net Worth Insurance?
- Higher Coverage Limits: High Net Worth Insurance provides higher coverage limits that you and the insurance company agree on. The limits are higher than ordinary personal insurance to cover the real value of your assets.
- Extended Liability Coverage: You also get extended personal liability coverage that includes coverage for your domestic staff, as well as worldwide traveling coverage.
- Protection for Multiple Assets: Unlike standard homeowners insurance, high net worth insurance extends to include multiple properties, like your primary home, vacation home, and more. Your high-value contents insurance also covers valuable items that standard policies might not include. Instead of needing additional insurance policies, you can get an all-in-one solution.
- Excess liability coverage: Also known as an umbrella policy, excess liability coverage bridges the gap between your coverage limits and the real value you need to claim.
What Does High Net Worth Insurance Coverage Include?
High Net Worth Personal Insurance in Oakville
High Value Home Insurance
High-value homes usually have unique architecture, luxury features, and are built with custom materials that aren’t common elsewhere. That makes their value exceed that of regular homes, requiring more than standard home insurance coverage.
High-value home insurance ensures that your home can be restored to its original condition, whenever damage or loss happens. It includes risk assessment and personalized claims handling for clients.
High-value home insurance includes high-value contents insurance coverage for luxurious items, exceeding the limits of standard contents coverage. With more coverage options, you can include many of your high-value belongings and even buy additional coverage like identity theft protection.
High Net Worth Car Insurance
Your car is also covered by high-net-worth insurance options. Whether it’s a luxury car, collector car, or classic car, you can get coverage that suffices for your car’s protection. For example, classic car insurance is for cars that are collectible, vintage, or classic. It accounts for the car’s agreed value, rarity, and cost of special repairs. Coverage includes liability protection in case of an accident.
Fine Art Insurance
With fine art insurance, your art pieces are safeguarded against theft, damage, and loss. It covers artworks, like paintings, sculptures, and other valuable pieces.
Fine Art Insurance accounts for both depreciation and appreciation over time, unlike standard contents coverage. Some insurance companies offer an increase in coverage if the artwork’s value increases because the artist has passed away.
Jewelry Insurance
Your jewelry is in good hands with specialized jewelry insurance. While home insurance may provide additional coverage for some expensive items, it still has limitations. With jewelry insurance, your watches, rings, necklaces, and all forms of jewelry get high coverage limits that honor their true value.
GET A QUOTERisk Management for High-Net-Worth Clients in Oakville
High-net-worth individuals face a lot of unique risks. Here are some risk management strategies we advise our high-net-worth clients.
- Analyse your risk tolerance: High net worth individuals have different needs, requiring a custom wealth management plan, not a one-fits-all. It’s important to analyse your risk tolerance level, considering factors like investment objectives, financial goals, and income stability. That way, you can align your investment strategies with your financial objectives.
- Allocate your Assets: Spreading your investments is a risk mitigation strategy of investing across different asset classes, like stocks, shares, bonds, and estate, industries, or geographical locations. This reduces your overall risk and increases the potential of benefits in the long run.
3. Rebalance your portfolio: A dynamic portfolio with regular updating and rebalancing maintains the desired risk levels and investment objectives in a dynamic financial market. It also ensures that your strategies are aligned with your risk tolerance, which minimizes risk exposure and optimizes long-term investment returns.
4. Manage liabilities: You should carefully assess your liabilities, like mortgages, loans, and legal obligations, to avoid financial risks. Developing a strategy, like having the right insurance, protects you against potential financial losses.
What Does High Net Worth Insurance Cost in Oakville?
- The price of high net worth insurance depends on many factors, like the type of insurance, value of insured items, coverage limits, risk profile, and more.
- For example, high-value home insurance costs between $1500 and $5000 per year, depending on the value of the home, and may even have higher premiums in some cases.
- Depending on the value of the car and your risk profile, classic car insurance may cost between $300 and $1200 per year. For higher limits, it may get even more expensive.
- Fine art insurance and jewelry insurance depend mostly on the value of the item, comprising 1% to 2% of its value. For example, jewellery worth $10,000 might cost $100-$200. For high-risk fine art, the premium may cost even higher, up to 5% of the item’s value.
Our Insurance Products
We offer a suite of insurance products that protect your property, vehicles, and lifestyle, designed to keep you financially safe.
We Serve also These Areas:
- High Net Worth Insurance Ontario
- High Net Worth Insurance Burlington
- High Net Worth Insurance Collingwood
- High Net Worth Insurance Toronto
High Net Worth Insurance Oakville FAQs
Not necessarily. Oakville is considered lower risk than some urban centres, but premiums still depend on the home’s value, location, and individual risk factors.
$5 million+ is generally considered very high, but high net worth insurance applies to those with $1 million+ in insurable assets.
Luxury homes, secondary/vacation properties, jewellery, fine art, collectibles, yachts, and classic or high-end vehicles.
Yes, if your assets exceed the limits of standard policies. High net worth insurance offers broader coverage, higher limits, and specialized protection.
It’s based on property value, rebuild costs, contents, liability limits, claims history, location risk, and lifestyle factors.
Yes. Many insurers offer global coverage for vacation homes, art collections, or valuables kept abroad.
Oakville has a high concentration of luxury homes, waterfront properties, and affluent residents, creating demand for tailored high-limit coverage.
If your home, valuables, or total insurable assets exceed standard policy limits, often $1 million, you likely qualify for high net worth insurance.
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Your valuable assets are in safe hands with Affiliate insurance. Get coverage now!