High Value Home Insurance

Coverage For Your Unique Needs

What is a high-value home?

A high-value home is categorized as a home valued above $750,000. Some policies may only cover homes worth $1 million and up.

Standard homeowner insurance policies often do not provide enough coverage for this type of home and the contents within, such as antiques, art and jewelry. Even if a standard policy offers endorsements to fill coverage gaps, the owner of a high value home may still be significantly underinsured.

A high-value home insurance policy is the better option for high net worth households that have unique coverage needs. Our agency offers several options for high value home insurance:

Increased Coverage Limits Under a High-Value Home Insurance Policy

A high-value home insurance policy differs from a standard homeowner’s insurance policy in several important ways.

Better Dwelling Coverage

Under a standard policy your dwelling is insured for a specific amount, as listed on your policy’s declaration page. A high value home policy offers extended replacement cost coverage for your dwelling and other structures. IT may also have a “cash out” option if your home has been destroyed.

Better Contents Coverage

Contents coverage is often a special concern for owners of luxury homes, which are typically filled with expensive personal items. A standard policy usually provides coverage for “named perils” whereas a high value policy will provide all risk coverage for contents. Also, contents coverage in a standard policy may be actual cash value with replacement cost coverage optional, whereas a high value home policy generally includes replacement cost. Coverage limits for valuable items such as jewelry are also higher.

Better Liability Coverage

As a higher net worth home owner you also have potentially have a lot to lose in a lawsuit. Both standard and high value policies provide liability coverage, however the high value policy may also provide for legal defense costs outside the liability limit, giving more coverage to pay for legal judgements or settlements. In addition, while a standard homeowner’s policy may offer personal injury coverage (for libel, slander and defamation under an umbrella policy, this is included in a high-value home insurance policy. You can also choose excess liability coverage, as much as $50 million to $100 million depending on the insurer.

Additional Increased Coverage

A high-value home insurance policy goes beyond a standard policy and may also provide the following coverages and services: