For affluent individuals , wealth is about more than financial success. It’s also about preserving a lifestyle built over a lifetime. From distinctive homes and vehicles to meaningful collections of art, watches, wine or jewelry, these assets often reflect deeply personal passions and legacies. Protecting them requires an insurance strategy that is just as well-considered as the assets themselves, often involving specialized valuables insurance designed specifically for high‑value collections.
That need is underscored in the 2025 Chubb Wealth Report, which reveals a paradox among wealthy North Americans: confidence in future opportunity, paired with growing awareness that wealth alone does not guarantee security. Extreme weather, cybercrime and economic volatility are increasingly top of mind. Notably, 73% of collectors now believe loss or damage from natural disasters represents the greatest threat to their collections, a sharp increase from previous years.
“At NFP, our role is to help clients turn awareness into action,” says Stefanie Capovilla, vice president, Private Client Group at NFP. “We start by taking the time to understand the full picture, your assets, your lifestyle and the risks that are unique to you, so we can design protection that truly fits.”
Collections: Valuable, Personal and Often Underinsured
Collections remain a cornerstone of high net worth lifestyles. According to Chubb’s research, two‑thirds of collectors have collections valued at more than $500,000, and 44% plan to add to them in the coming year. Watches are the most collected item across all generations, followed by fine art, wine, jewelry (which often requires specialized jewelry insurance) and sports memorabilia.
Yet despite these significant values, many collectors still have gaps in their protection, often relying on standard policies rather than dedicated collectibles insurance designed to account for appreciation, transit and storage risks. Only about one quarter of collectors plan to insure new acquisitions, even though risks from water damage, fire and transportation losses remain.
“Collectors are passionate and knowledgeable, but insurance is often an afterthought,” Capovilla explains. “We help clients step back and look at how their collections are exposed at home, in storage, during transit or even while being worn, and then build coverage that reflects the real‑world risks.”
As a broker, NFP works closely with top insurers who protect luxury and high value assets to deliver specialized coverage that goes beyond standard policies. That includes broad protection for multiple causes of loss, flexible valuation options and access to risk‑prevention guidance.
A Strategic, Evolving Approach to Protecting Valuables and Collections
NFP’s Private Client Group approach is intentionally holistic. In addition to collections, NFP advises on high excess liability coverage for homes, vehicles, secondary and international properties, recreational assets, farming and equine operations, and personal cyber risks. Chubb’s report indicates that cybersecurity has also emerged as a critical concern for affluent families.
“We recognize that our clients’ lives evolve, and so do risks,” Capovilla says. “That’s why we regularly review portfolios, identify gaps, monitor market trends and adjust coverage as needed. It’s not a one‑time conversation; it’s an ongoing partnership.”
Ultimately, protecting wealth is about protecting what that wealth makes possible. With deep expertise, trusted carrier relationships and a highly personalized approach, NFP’s Private Client Group helps ensure that valuable assets are protected today and for generations to come.
