Personal Insurance
Insurance › Personal Insurance
Personal Insurance for Business Owners, Families, and High-Net-Worth Individuals
Most of our clients come to us for their business insurance - contractor coverage, surety bonds, farm and ranch programs, manufacturing, or commercial real estate. But the same risks that threaten your business can threaten your personal life. A lawsuit that exceeds your business umbrella reaches your personal assets. A house fire or auto accident can disrupt your family while you are running a company. And if your personal and commercial policies are with different agents, nobody is looking at the full picture.
Grit Insurance Group places personal insurance alongside your commercial program. One agent, one relationship, one team that understands your complete risk exposure - business and personal. That is how coverage gaps get found before they become claims.
Personal Coverage We Place
- Homeowners Insurance - primary residences, vacation homes, secondary properties, and rental properties you own personally. Your homeowners policy needs to reflect current replacement cost, not the purchase price. Construction costs have risen significantly, and an underinsured home is one of the most common personal coverage gaps we find.
- Auto Insurance - personal vehicles, multi-vehicle households, teen drivers, collector cars, and recreational vehicles. Your auto limits should coordinate with your umbrella policy. If you carry a $1 million umbrella but your auto liability is at state minimums, the gap between them is your exposure.
- Personal Umbrella Liability - $1 million to $10 million or more in excess liability protection above your homeowners and auto policies. For business owners, contractors, and property investors, an umbrella is not optional. A single serious auto accident or injury claim on your property can exceed your base policy limits. Your personal umbrella picks up where those policies stop.
- High-Net-Worth and Private Client Insurance - specialized programs for individuals and families with significant assets. High-value homes, fine art, jewelry, wine collections, watercraft, and excess liability all require carriers who understand affluent risk profiles. Private client programs from carriers like Chubb, PURE, Cincinnati, and AIG Private Client offer broader coverage, higher limits, and concierge claims service that standard carriers do not match.
- Recreational Vehicles - ATVs, side-by-sides, snowmobiles, boats, and personal watercraft. If you own recreational equipment, it needs its own coverage. Your homeowners policy provides limited or no coverage for motorized recreational vehicles off your property.
- Flood Insurance - standard homeowners policies exclude flood damage. If your home is in or near a flood zone, NFIP or private flood insurance is essential. Do not assume your homeowners policy covers flooding - it does not.
High-Net-Worth Insurance
If your home is valued at $750,000 or more, you own investment properties, you have significant personal assets, or your net worth exceeds $1 million, standard personal insurance programs are likely leaving you exposed. High-net-worth and private client programs offer:
- Guaranteed replacement cost - your home is rebuilt to its current standard regardless of the policy limit, including code upgrades and custom finishes
- Broader coverage forms - fewer exclusions, higher sub-limits, and automatic coverage for new acquisitions
- Valuable articles coverage - scheduled coverage for jewelry, art, wine, firearms, and collectibles without the sub-limits of a standard policy
- Excess liability at higher limits - $5 million to $50 million+ in umbrella coverage for individuals with significant exposure
- Concierge claims service - dedicated adjusters, approved contractor networks, and expedited claims handling
- Identity theft and cyber protection - personal cyber coverage for identity fraud, online extortion, and data breach
Why Business Owners Need Their Personal Insurance Agent to Know Their Business
Here is the problem with having separate agents for your business and personal insurance: neither one sees the full picture. Your commercial umbrella may not cover personal claims. Your personal umbrella may not cover business-related exposures. A lawsuit that starts as a business claim can reach your personal assets if your commercial limits are exhausted. And if your personal auto is used for any business purpose - even occasionally - your personal auto policy may deny the claim.
When Grit handles both your commercial and personal programs, we see the overlaps, the gaps, and the coordination points that two separate agents would miss. That is not a sales pitch. It is how insurance is supposed to work.
Frequently Asked Questions
Do I really need a personal umbrella if I already have a commercial umbrella?
Yes. Your commercial umbrella covers business-related claims. Your personal umbrella covers personal claims - auto accidents, injuries on your residential property, personal liability lawsuits. They protect different exposures. A serious auto accident on a Saturday has nothing to do with your business, but it can exceed your auto policy limits and reach your personal assets. Your personal umbrella responds to that claim. Your commercial umbrella does not.
How much umbrella coverage do I need?
A common guideline is to carry umbrella limits equal to your net worth. If your total assets (home equity, investments, business equity, savings) total $2 million, you should carry at least $2 million in personal umbrella coverage. Business owners with higher exposure profiles should consider $5 million or more. Umbrella premiums are relatively low compared to the coverage they provide - often $200 to $500 per million per year.
What is the difference between standard homeowners and high-net-worth coverage?
Standard homeowners policies have coverage limits, sub-limits on valuables, and exclusions that can leave expensive homes and assets underinsured. High-net-worth programs offer guaranteed replacement cost (no cap on rebuilding), broader coverage forms with fewer exclusions, scheduled valuable articles coverage, higher liability limits, and dedicated claims service. If your home would cost $750,000 or more to rebuild, a private client program is worth evaluating.
Can my personal auto policy deny a claim if I was driving for business?
Yes. If you use your personal vehicle for business purposes - even occasionally driving to a job site, meeting a client, or hauling materials - your personal auto insurer may deny a claim that occurs during business use. Your commercial auto policy or a hired and non-owned auto endorsement on your business policy should cover business use of personal vehicles. Make sure there is no gap.
How much does personal insurance cost?
Premiums vary widely based on home value, vehicles, location, claims history, and coverage limits. A homeowner with a $400,000 home and two vehicles might pay $3,000 to $5,000 per year for home and auto. A personal umbrella adds $200 to $500 per million per year. High-net-worth programs for homes valued at $1 million+ typically start at $5,000 to $10,000 per year depending on the home and assets covered.
Why Families and Business Owners Work With Grit for Personal Coverage
- One agent for your business and personal insurance - complete risk visibility
- Umbrella coordination across commercial and personal policies
- Access to high-net-worth carriers (Chubb, PURE, Cincinnati Private Client, AIG)
- We find the gaps between your business and personal coverage before they become claims
- Independent brokerage - we shop your personal lines the same way we shop your commercial
Your business is covered. Make sure your family is too. Call us at (801) 505-5500 or start a quote online.
Personal Insurance
Your business is protected. Your family should be too. We take the time to understand your complete picture - business and personal - before we make a single recommendation.