There is no legislated definition. In practice, a household enters the private client market when its home’s rebuild cost, its collections or its liability exposure exceed what standard insurers will comfortably write — commonly around a $1 million to $1.5 million replacement cost, or a collection of jewellery, art or vehicles worth more than the special limits on an ordinary policy. Thresholds and appetite vary by insurer, so eligibility is confirmed at quote rather than assumed.

Not always, and often not by as much as clients expect. Private client insurers underwrite a lower-frequency book, credit loss prevention generously, and consolidate several policies into one program. Where premium does rise, it is usually because the sum insured rises — a home appraised at its true rebuild cost, and collections scheduled at what they are actually worth, are simply more insurance than the household was carrying before.

By appraisal, not by market value. The insurer sends a risk consultant to document construction, finishes, systems and unique features, and the limit is set from what it would cost to rebuild the same house on the same site today. Market value is irrelevant to that calculation — land, location and demand do not need rebuilding.

Standard home policies cap certain categories: jewellery, watches and furs at roughly $1,000 to $6,000, cash and coins at $200 to $500, stamps and manuscripts at $1,000 to $2,000, bicycles at $500 to $1,000, and collectibles at a few thousand dollars. Worth knowing: in most Canadian wordings those caps apply to theft and mysterious disappearance, not to a fire. Valuable articles coverage removes the cap by scheduling or blanketing the items at agreed value, usually on an all-risk basis, worldwide, and often with no deductible.

Insurers generally require an appraisal above a threshold that varies by category and carrier, and accept a detailed description and value below it. Independent of that, appraisals should be refreshed every three to five years. A stale appraisal is the most common reason a valuable articles claim settles for less than the client expected.

Yes, and that is usually the point. A high net worth insurance program is designed to hold a principal residence, a cottage or seasonal property, condominiums, rental units, automobiles, watercraft and collections under coordinated terms with a single renewal date, one deductible structure and one excess liability policy sitting over all of it.

Through an agreed or guaranteed value endorsement, so a total loss pays the value set in advance rather than a depreciated figure. The endorsement differs by province, and it is worth being precise: some provincial forms cap the payout at a stated amount rather than guaranteeing it. Collector programs also carry usage expectations — pleasure use, an annual distance allowance and secure storage — and typically require every licensed driver in the household to have a regular vehicle insured elsewhere.

Enough that a catastrophic judgment does not reach your assets. Canadian personal umbrellas are commonly written from $1 million to $10 million, with substantially more available, and insurers generally require underlying limits of at least $1 million — often $2 million on auto. The right number is a function of net worth, driver profile, entertaining, watercraft and public exposure, not a rule of thumb.

The liability side of a private client program responds to injuries suffered by domestic employees and to allegations arising from their work, and excess liability sits above it. Separate from insurance, employing household staff triggers provincial employment standards and workers’ compensation obligations — in Ontario, for example, registration with the WSIB is mandatory once a domestic worker exceeds 24 hours a week for one household. Requirements differ by province, and we will point you to what applies.

You call us, not a call centre. We report the loss, brief the adjuster, and stay in the file until it settles. On private client programs you will typically be assigned a named adjuster, you can choose your own restoration contractor and appraiser, and for a total loss you may have the option of a cash settlement rather than a rebuild — though taking cash generally caps the payment at the policy limit, where rebuilding is what unlocks extended replacement cost.

Often, yes. Private client markets write or coordinate coverage for winter homes, foreign residences and assets held abroad, and valuable articles cover generally follows the item anywhere in the world. Some jurisdictions require locally admitted paper, which we arrange through correspondent markets.