Under what circumstances would I benefit from a high net worth insurance policy?

From Investopedia

A high-net-worth insurance policy is specifically tailored to suit the needs of high-net-worth individuals. It is specifically designed to cover substantial assets such as property, automobiles and valuable collections. Such a policy often helps meet the complicated estate, business, tax and risk-management needs of individuals with high net worth.

In situations in which an individual or family has expensive collections or hobbies, a high-net-worth insurance policy diligently notes an accurate appraisal of all items, especially those that are rare or difficult and costly to replace. A good policy safeguards against accidents or theft, including those by cleaning staff or other paid workers within a high-net-worth individual’s home.

Another instance in which the policy can be of benefit is with estate taxes. For wealthy individuals and families, estate taxes are extremely high and a definite threat to the family’s wealth. The most standard rates are 50% of the individual’s net worth; in some instances, estate taxes can effectively run even higher. Properly structured life insurance policies can save hundreds of thousands or even millions of dollars in estate taxes.

One of the most beneficial instances for a high-net-worth insurance policy is when an individual needs to protect his home. Typically, this is the most important asset an individual wants to cover, as it is likely worth a significant amount of money and also because it is likely to contain many valuables.

High-net-worth insurance can also be helpful for people who have complex business interests mingled in with their personal or family estate.

While high-net-worth insurance policies can benefit high-net-worth individuals, proper coverage can often be as complex as the estate the policy is designed to protect. Individuals considering getting a high-net-worth insurance policy should discuss the idea with a financial adviser before speaking with an insurance agent.