Private Client Group

Platinum service for thriving families and successful individuals.

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High Value Homeowners
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Luxury, Exotic, and High Value Auto
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Personal Umbrella / Excess Insurance
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Yacht, Sailboat, Large Marine
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Jewelry, Art, and Collections
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Other Valuable Coverages

Protections only for private clients.

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Private Client Insurance

Private Client Insurance Packages, by Bankers Insurance

We respect you, your privacy, and are happy for your success. Each member of our private client group is unique. As such, each of our clients is assigned a personal insurance agent to advise, guide, and advocate. We offer a unique insurance solution – an entire suite of companies that specialize in high net worth insurance. We take the time to understand your needs and tailor protection to match. Our private client insurance products offer broad coverage, supported by Bankers’ platinum-level service.

Bankers specializes in high net worth insurance solutions. Our job is to understand our clients, advise them of their risks, and transfer those risks through insurance where desired. And we enjoy a challenge. Do you live in one state and have a full-time student with a foreign driver’s license in another? We’ve done it. Want to bundle a home in another state, or even in another country? We can advise you of your options. Enjoy the Bankers’ service advantage.

Claims

Bankers staffs in-house claims insurance agents. In addition to your account manager, should a claim occur, one of our agents (not an employee of the insurance company) is assigned to you to advocate on your behalf and guide you through the process. We aim to ensure your claim is processed quickly and fairly.

Advantage

No single insurance company offers the best solution in every situation. Each one is different, as are their policies. Use our experience to your advantage. We will match you to the most suitable policy and insurance company.

Insured-to-Value

There is no sense in having too much insurance. Likewise, a claim is never when you should learn a policy provides inadequate coverage. We strive to ensure our clients are properly and accurately protected.

John Smith
(434) 327-1642
jsmith@bankersinsurance.net

Elizabeth Burke
(828) 350-3115
eburke@bankersinsurance.net

Athena Zourzoukis
(828) 350-3132
azourzoukis@bankersinsurance.net

Sam Winn
(804) 324-2113
swinn@bankersinsurance.net

Sam Perry
(804) 324-2118
sperry@bankersinsurance.net

High-Value Homeowners

Our clients are proud of their homes, and rightfully so. Each is exceptional. Whether the house contains distinctive architecture, custom fixtures, or rare hard surfaces, protect your investment with a proper private client insurance policy. We craft each one to cover your home’s specific needs. Our high-value homeowner’s policies also provide broad personal liability protection that matches your active and mobile lifestyle. We are here to serve, whether you have one home or several, in the US or around the world.

  • Personal Liability Protection: Protection for you and your entire family against many of the common risks faced by wealthy clients. Protect against liability for bodily injury, property damage, or personal injury. Claims can arise from everyday activities such as hosting get-togethers at your home, a child’s school-related activities, or accusations of slander, libel, invasion of privacy, wrongful eviction, or malicious prosecution.
  • Guaranteed Replacement Cost: Protection that extends beyond the limits of the policy when needed, to repair or rebuild your home.
  • Cash-out: A private client insurance exclusive. If you were to lose your home in a devastating fire, would you rebuild? It is difficult to predict today exactly, what you will want in the future. Would you consider rebuilding elsewhere, just not on the existing premises? Or maybe you’d prefer to receive a cash settlement. Each claim situation is different. Ensure your policy allows you to keep your options open.
  • Rebuilding to Modern Building Codes: If building codes have changed in your area since your home was originally built, you may be required to repair/rebuild to the new, more expensive codes. Your policy can be crafted to respond in such a situation by providing increased levels of coverage.
  • Home Appraisal Services: Remove the guesswork. Many of our private client insurance companies offer home appraisals to help accurately value the cost to rebuild. These services also can identify safety features of your home that qualify for policy credits.
  • Additional Living Expenses: If you are unable to live in your home due to a covered claim, additional living expenses pay for the cost of temporary housing. These can even cover the expense to board pets.
  • Replacement Cost for Contents: If you lose your home’s contents due to a claim, you need to replace those assets. However, most standard policies cover a home’s contents at actual cash value which takes depreciation into account, approximating market value. High-value homeowners insurance policies can provide replacement cost for contents – a valuable option.

Our private client insurance policies provide many, many other valuable benefits. Contact us so we can demonstrate the Banker’s advantage to you.

Auto

Our private client insurance offerings go well beyond standard car insurance. Our goal is not to simply cover the vehicles you own, but provide extensive liability protection along with coverage for common ancillary risks you may not think about.

For example, while traveling on vacation, do not settle for the minimum limit policy offered by the rental car agency. Instead, protect yourself with the full coverage of your existing auto policy (and personal umbrella), no matter on which continent you find yourself. Did you just purchase a new vehicle? We can ensure you have automatic coverage – just let us know of the purchase within thirty days. Are you driving a friend home in their car after a night on the town? What happens if you are in an accident while being a good Samaritan? Know beforehand that you are suitably covered.

Options

  • Original Equipment Manufacturer (OEM) Parts: Don’t settle for aftermarket, knock-off, or rebuilt parts. Our private client insurance solutions repair your vehicle with OEM parts.
  • Agreed Value – No Surprises: In the event of a total loss, receive a settlement based upon an agreed value, shown in the policy, without applying the deductible or depreciation, and regardless of vehicle age or mileage.
  • Gap Protection: If the agreed value or insured value are inadequate to pay for the outstanding loan balance, gap protection fills the void.
  • Choice of Repair Shops: Our clients often have opinions as to where they want their vehicle repaired. Private client insurance policies allow you freedom to repair your vehicle where you deem best, or provide recommendations should you desire them.
  • Rental Protection: If your vehicle is being repaired due to a claim, this coverage pays for the expense of a temporary rental vehicle.
  • Technical Specialists: Claims adjusters that specialize in auto repair.
  • High Liability Limits: Up to $10,000,000, or higher with umbrella liability.
  • Worldwide Rental Coverage: Your auto policy can follow you and protect you in the event you rent a vehicle in another country. Limits apply within certain borders.
  • Worldwide Liability Protection
  • Worldwide Claim Centers: If you are driving out of country, or renting a vehicle while on vacation, rest assured your insurance carrier has local claims centers to provide appraisal and settlement services in the area.
  • Lock and Key Replacement: Many modern vehicles contain sophisticated anti-theft systems that necessitate expensive keys that can be difficult to replace. No deductible applies.
  • Pet Injury

Personal Umbrella

Home, auto, and watercraft insurance policies provide a limited amount of liability cover. A personal umbrella policy can go over them and provide an additional layer of protection should their limits be reached. For private client insurance packages, limits from $1,000,000 to $50,000,000 or higher are available. These powerful policies offer worldwide protection and wide-ranging coverage for risks rising from everyday situations as simple as entertaining friends, travel, or even volunteer work.

Merry Christmas - You've Been Served

While hosting the yearly neighborhood Christmas party, a guest falls from your deck and sues for injuries, alleging the railings were inadequate.

Sue Happy!

While commuting to work, you cause an accident, injuring another driver. They are a personal injury lawyer and now unable to work for a time. They sue for damages well over the limits of your auto liability policy.

Jet Set

Friends come to visit your lakeside home and the kids enjoy a few hours on your jet skis. One of them loses control, runs into the dock, and is hurt. A lawsuit arises, alleging the jet ski malfunctioned due to inadequate maintenance and that improper operating instructions were given.

No Small Liability

Traveling to another country on vacation, your family is window-shopping and steps into a jewelry store. While distracted looking at watches, your five-year-old son manages to tip over a tall display case onto another patron.

Underlying Private Client Insurance Policies

As selected by you:

  • Homeowners
  • Auto
  • Watercraft
  • ATV
  • Aircraft

Coverages

  • Worldwide protection
  • Bodily Injury: Protection should you be found liable for injury to someone. Claims can arise from any underlying coverages.
  • Property Damage: Coverage should you damage to property of others.
  • Personal Injury: Protection for a wide variety of actions including slander, libel, invasion of privacy, wrongful eviction, false arrest, detention, imprisonment, and malicious prosecution.

Options

  • Unlimited Defense Costs: And outside the limits of the policy. This means legal fees do not count against the policy limits – a premier private client insurance option since defense costs can sometimes be more than a settlement.
  • Drop-Down Protection: If a claim should occur that is not covered by one of your underlying policies, this feature provides first dollar protection.
  • Directors and Officers (D&O) Liability: Many of our clients serve on the board of directors of various entities, both non-profit and for-profit. We advise those that do to ensure that entity has proper D&O coverage in place. However, should those limits prove to be inadequate, or should you serve on a small board that does not carry its own D&O, your personal umbrella policy added to your private client insurance package can provide such protection. Risks include suits relating to discharging the duties of the office held, such as failure to act in a fiduciary capacity.
  • Domestic Employee: If you retain a groundskeeper, cook, au pair, nanny, driver, or other domestic staff, you could be found liable for employment practice issues. Get the power of a commercial-grade EPLI policy built into your personal umbrella and protect yourself against claims of wrongful termination, harassment, discrimination, refusal to hire, and more.

Watercraft

Relish the joys of boat ownership without the worry. Bankers Insurance can protect your yacht, sailboat, or any other watercraft in local waters and beyond – wherever you may adventure. And our private client insurance policies not only provide protection for the hull, but liability as well. Entertain with confidence. Be covered for all shipboard diversions, whether day tripping on the bay, motoring with guests in the Caribbean, or sailing to Greece for the summer. Crew coverage is just one of the many other protections available.

Craft

  • Yachts, Mega Yachts, and Ships
  • Sailboats of all sizes
  • Motorboats
  • Speedboats
  • Jet Skis
  • House Boats
  • Tenders, Dinghies, and all supporting craft

Key Distinctions

  • Territory: Worldwide or named waters.
  • Coverage:
    • Hull, motors, navigation, and all auxiliary equipment.
    • Personal effects on the craft. Property of guests available as well.
  • Agreed Value: The value of the vessel is agreed beforehand and stated on the private client insurance policy. In the event of a total loss, the entire amount of the agreed value is paid, without depreciation, and without applying a deductible. In the event of a partial loss, the vessel and its equipment is repaired or replaced, new for old, without depreciation.
  • Crew: If you employ a captain and/or other crew, they are not protected under a standard worker’s compensation policy for domestic servants. Such crew fall under jurisdiction of federal law, either the Longshoremen’s and Harbor Workers Act (USL&H) or the Jones Act. Whether added to your existing watercraft policy or written separately, our experts can help ensure you have the coverage you need to protect your crew and your assets.
  • Bumbershoot: Bumbershoot refers to excess liability protection in the maritime industry. Such protection goes over your boat policy(s), increasing liability limits. In this way, it acts similarly to a personal umbrella policy. We recommend your watercraft policy and bumbershoot be high enough to provide at least the same liability limits as your private client insurance package (home/auto/personal umbrella).
  • Towing and Emergency Repair: Should you find yourself in need of assistance while away from safe harbor, this can pay expenses related to towing, delivery of fuel, oil, batteries, and even provide trailer roadside service.
  • Liability: In maritime terms, liability is referred to as Protection and Indemnity (P&I). P&I provides cover should you damage other property or hurt someone. Claims can arise from collisions with other vessels, running over swimmers, or your own vessel breaking loose of mooring and damaging coastal structures.
  • Medical Payments: Reasonable medical, ambulance, and hospital costs for injury while onboard.
  • Uninsured Boater: Protection should you or your family be injured by an uninsured boater.
  • Liability for Non-Owned Vessels: Protect yourself, should you borrow someone else’s vessel or simply operate it while their guest.
  • Newly Acquired Vessel: Automatic coverage, up to the purchase price, as long as the new vessel is reported within 15 days. We will then add it to your private client insurance policy, but it will be automatically protected in the meantime.
  • Wreck Removal: If required by civil authority.
  • Accidental Fuel Spill / Pollution: Containment, clean up, and resulting damage.
  • Hurricane Haul Out: Provides reimbursement of expenses to haul out and store your vessel for its own protection in the event of a named storm.
  • Charter Usage

Art, Jewelry, and Collections

Even high value homeowners policies contain limitations on collections such as jewelry, fine art, wine, and firearms. Whatever your collection, we can ensure it is added properly to your private client insurance package, either to an existing home policy, or covered by a separate collections insurance policy altogether.

But our efforts don’t stop there. We want you to enjoy your success. What if you loan one of your precious paintings to a local museum during a fundraiser? Our clients can contact us to ensure it is covered should it be stolen or damaged. And if you happen to travel with valuable jewelry, be sure you are protected for mysterious disappearance. Or what if the airline loses your Super Black Eagle side-by-side while enroute to a dove hunt in Georgia? Our collection policies can be written to include travel coverage for valuable items.

Protection For

  • Fine Arts
  • Jewelry
  • Wine Collections
  • Antiques
  • Firearms
  • Silverware
  • Furs and Fine Clothing
  • China and Crystal
  • Books and Manuscripts
  • Coins
  • Musical Instruments
  • Miscellaneous Collections

Key Distinctions

  • Worldwide Coverage
  • Named or Blanket: Private client insurance policies are flexible. List specific items on your policy, cover them with a single blanket amount, or utilize a combination of the two. Many clients prefer the latter option, having the reassurance that their most valuable pieces are specifically named, while covering the remainder with a single blanket limit.
  • Value Protection: Should any scheduled piece be worth more at the time of loss than was listed on the policy, increased levels of coverage can automatically apply, subject to the policy limit.
  • Loss in Market Value: Coverage should a piece receive damage that reduces its market value.
  • Cash Settlement: An option to receive a cash payment should a piece be deemed irreplaceable or simply by the client’s choice.
  • Appraisal: Help with scheduling regular appraisals of your items.
  • New Purchases: Automatically covered for 90 days.

Other Private Client Products

Our private clients enjoy access to many other valuable insurance protections.

Identity Theft and Cyber Fraud

The hard truth is high net worth clients are many times more likely to be the subject of identity theft and cyber fraud simply because of the nature of their lifestyle. These attacks range from traditional theft of critical information in printed form, to the ever-increasing cyber attacks and social engineering schemes that are playing havoc with companies and individuals alike. No longer an occasional occurrence, these deceptive assaults are increasing in frequency and effectiveness. Our private client insurance policies can help protect from resulting damages while covering forensic investigative costs and credit rebuilding services to put your reputation back to pre-attack levels.

Email Hacking

Our client receives an email from their realtor, providing wiring instructions to close on a $320,000 secondary home. The client is anticipating this communication as they are already in the closing process. They contact their bank and completed the transaction. Not long thereafter, the client receives another email from their realtor with similar instructions, but to a different account.

Calling their realtor, our client discovers the realtor had not sent the first email. A hacker had compromised our client’s email, monitored the account, waited for an opportune time, then sent them a convincing forgery. The transfer is irreversible.

Computer Ransom

A client is Christmas shopping online at home and receives a pop-up message that their computer is hijacked, all personal information compromised, and locked till a $5,000 ransom is paid. Wire transfer instructions are given. They try to shut down and reboot, but the same message appears and their computer remains unresponsive.

Flood & Earthquake

Flood and earthquake are not covered under standard homeowners insurance. However, they can be added to a private client insurance package by endorsing the high value homeowners insurance policy, or a separate policy can be written.

Travel

An attractive private client insurance option. Should you become ill or poor weather inhibit travel plans, why insure each and every trip separately? For as little as $175 per year, you can ensure all your trips, no matter how often you travel. And if you’re a golfer, you can even add a golf endorsement to cover greens fees and lost equipment.

Condos

Landlord / Lessor's Risk

Family Protection

More than traditional kidnap and ransom insurance, this protection can provide coverage for:

  • Kidnap
  • Ransom
  • Hijacking
  • Car Jacking
  • Child Abduction
  • Stalking
  • Home Invasion

Workers Compensation for Domestic Servants

If you employ cooks, house cleaners, drivers, groundskeepers, or any other domestic servants, we highly recommend adding workers compensation to your private client insurance package. Your state worker’s compensation law stipulates benefits for job-related injuries. Thus, if injured while on the job, they are legally entitled to compensation for medical bills and lost wages. However, if you have a workers’ compensation policy, it is generally their only recourse. Such a policy provides for your employee, while also protecting you from being sued.

Note: Captains and crew of vessels are protected by maritime law and properly covered under a properly written P&I policy. See our explanation under watercraft above.

Testimonials

Everyone always is very helpful when I have questions concerning my insurance. They are always professional and polite.- Jerry Crider
I must be satisfied since I've been with you all for over 25 years!!- Joann & Tommy Tigert
Employees at Bankers are always very helpful and have a good attitude with their customers.- John & Patricia Johnson
Bo Rhodes and his team in Elizabeth, NC are an outstanding group. My wife and I purchased a second home and have been very pleased with the service Bo and his team have provided. We received very reasonable quotes and great advice for the insurance products we needed.- David Gallagher

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