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  • Writer's picturePauline Handy

Why High-Net-Worth Individuals Should Consider an Independent Insurance Agent

Wealthy couple sailing in the Carribean

As a high net worth individual, your unique lifestyle and valuable assets require tailored insurance solutions. If you're currently insured through a captive insurance agent—one who represents a single insurance company— or a direct writer found online, you might not be receiving the best possible coverage, rates, or service.

Limitations of Captive Insurance Agents

• Limited Options: Captive agents can only offer products from one insurer. This limits your choices and might not provide the most comprehensive coverage tailored to your needs.

• Potential for Overpaying: Without the ability to shop around, you may end up paying more for less coverage. Captive agents don't have the flexibility to compare different policies and rates.

• Conflicts of Interest: Captive agents are incentivized to prioritize the interests of the insurer they represent, which might not always align with your best interests.

Disadvantages of Choosing a Direct Insurance Writer Online

• Limited Coverage Options: Direct insurance writers typically offer standard policies that may not provide adequate coverage for high-value homes and unique assets.

• Lack of Personalization: These insurers often lack the flexibility to customize policies to meet the specific needs of affluent clients.

• Impersonal Service: Direct writers generally offer less personalized service, which can be crucial for managing complex insurance needs and claims.

• Potentially Higher Costs: Without access to multiple carriers, direct insurers may not offer the most competitive rates available.

Benefits of Independent Insurance Agents

• Wide Range of Options: Independent agents work with multiple insurance companies. This means they can offer a variety of policies and find the best fit for your unique needs, from home and auto to art collections and yachts.

• Customized Coverage: An independent agent can tailor policies to cover specific risks associated with high-net-worth lifestyles, ensuring that you have the right level of protection.

• Competitive Rates: By shopping around multiple insurers, independent agents can secure the most competitive rates, potentially saving you money while enhancing your coverage.

• Personalized Service: Independent agents build relationships with clients, providing personalized advice and support. They understand the complexities of high-value assets and can offer expert guidance on managing your risks.

• Advocacy and Claims Support: In the event of a claim, an independent agent acts as your advocate, helping you navigate the claims process and ensuring that you receive a fair settlement.


Switching to an independent insurance agent can offer significant advantages for high-net-worth individuals. With access to a broader range of products, personalized service, and competitive rates, you can ensure that your valuable assets and lifestyle are well-protected. Consider evaluating your current insurance arrangements and consulting with an independent agent to explore how they can better meet your unique insurance needs.

Explore Your Options

Reach out to an independent insurance agent today to discover the benefits of tailored insurance solutions designed for high-net-worth individuals. Serving the residents and business owners of Connecticut, V.F. McNeil Insurance, located in Branford, is a local and trusted independent insurance agent. Contact the insurance professionals at V.F. McNeil Insurance today. Call (203) 481-2684 or visit our main website to submit a request online.

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