Family protection

The best things in life aren’t things — they’re family

At Nationwide Private Client, we cover your possessions, and we also provide coverage to help make sure your family is protected when it counts beyond the usual coverages. 

For instance, did you know that affluent individuals may be at a higher risk of liability lawsuits?

For example, personal litigation against children accused of bullying is a growing concern. More than half (52 percent) of young people report being cyberbullied.1 Fifty-five percent of all teens who use social media have witnessed outright bullying via that medium.1 Children on Twitter, Instagram, Snapchat, Facebook and other social media forums may make comments online that they wouldn’t normally say in person. This can open the door for a libel or slander lawsuit.

Many affluent families are turning to family trusts to help preserve their assets. Not all homeowner’s insurance policies provide proper protection for trusts. Nationwide Private Client provides coverage for trusts and LLCs via the following:

  • A protection endorsement, which treats the trust or LLC as an insured
  • Listing the trust or LLC as an “additional insured” endorsement

This allows for proper global coverage for the insured and location-centric coverage for the trust or LLC.

How Nationwide Private Client responds

With Nationwide Private Client, affluent individuals and their families are protected when a covered loss occurs.

Risk scenario

Private Client coverage

Your spouse is taking a prescription pain killer after surgery and hits a pedestrian while driving.

Up to $250,000 in crisis management coverage is included in our personal excess policy with the protection endorsement. This coverage helps mitigate potential damage or injury to your spouse’s reputation caused by a covered cause of loss.

Your 11-year-old son is involved in a negative group text about another classmate. This child ultimately harms himself after school.

Personal injury coverage with our homeowners and excess liability policies provides coverage for libel, slander, defamation of character or invasion of privacy, among other causes of loss.

You are in an accident that leaves you confined to a wheelchair.

Up to $5,000,000 in uninsured/underinsured liability coverage is available in our personal excess policy. It helps protects your standard of living – by including broader coverage for lost wages, pain and suffering. It closes some potential gaps in another party’s general liability and auto liability coverage. Third party liability coverage extends to circumstances beyond auto accidents and applies to other third-party liability claims.

Up to $100,000 in disability alterations coverage is available in our personal homeowners policy with protection endorsement. This pays to update the residence premises to meet minimum standards for disability, allowing for the installation of wheelchair ramps, widening hallways, updating bathrooms, etc.

Your mother has to be moved to an assisted living facility.

Assisted living care coverage is optional coverage under our homeowners policy that extends personal property and liability coverage to non-household members related by blood, marriage or adoption in an assisted living facility.

You are kidnapped while on vacation out of
the country.

Up to $25,000 in kidnap expense coverage available in our personal homeowners policy with the protection endorsement. Reimburses any of the following expenses related to kidnapping of an insured: attorney fees, lost income, travel, lodging costs, and telephone costs.

Preserving assets is one thing, but making sure your family is protected when the unexpected happens is imperative. Unlikely events can happen at any time.

Why it’s important for you

Affluent clients’ concerns extend beyond what typical mass market homeowners and umbrella insurance policies cover. At Nationwide Private Client, we’ve customized our policies with the high net worth individual in mind. We understand that family is everything, and we pride ourselves in being a key solution before problems arise.

Nationwide Private Client offers these added benefits:

  • Claims: Exceptional claims handling provided by Nationwide Private Client.
  • Financial strength: Nationwide, a Fortune 1002 company, is one of the largest and strongest diversified insurance and financial services organizations in the U.S. and is rated A1 by Moody’s and A+ by both A.M. Best and Standard & Poor’s.3
  • Charitable giving: At Nationwide, we strongly believe in being good corporate citizens where we work and live. Since 2000, the Nationwide Foundation has committed more than $355 million to charitable organizations across the U.S. Nationwide Private Client continues to demonstrate this core value through its Partners in Giving program, helping numerous lives each year.

 

Download: Family protection

 

¹Cyber bullying statistics 2014.
2Based on revenue, Fortune (June 2015).
3Ratings affirmed 7/21/16 by Moody’s, 7/7/16 by A.M. Best, and 4/22/16 by Standard & Poor’s.

Nationwide Insurance® Company
Products underwritten by Nationwide Mutual Insurance Company and Affiliates including Crestbrook Insurance Company. Home Office: One Nationwide Plaza, Columbus, OH.
© 2019 Nationwide Mutual Insurance Company and Affiliated Companies. All rights reserved. | Home Office: One Nationwide Plaza, Columbus, OH 43215-2220.