Consider Protecting Your:
- High value home
- Coastal property
- Vacation home
- Secondary buildings
- Pool house
- Fence and gazebo
- Vacant property
- Personal belongings
- Legal liability from accidents or injuries
Protect Yourself From:
- Property damage
- Fire and smoke damage
- Damage, loss, or theft of personal property
- Replacement cost of lost items
- Disasters and vandalism
- Sewage and drain backups
- Living expenses if displaced from your home
- Reconstruction costs
- Personal injury or damage to your guests
- Kidnap and ransom
For most homeowners, standard homeowners policies offer sufficient protection. Residents who have particularly expensive houses, however, might need the extra coverages that high value home insurance can provide. High value home insurance is a specialized form of homeowners insurance. It’s uniquely designed for people who own expensive residences and, therefore, need more coverage for their house and themselves.
Most high value homeowners policies include the coverages that standard homeowners policies offer, as well as several other coverages. Additionally, they frequently have higher limits than standard homeowners policies do for the coverages that are found in both policies.
Because high value homeowners insurance generally provides more protection than standard homeowners insurance does, high value policies usually cost a little more than standard ones. For homeowners who have valuable residences, though, the additional coverages that high value policies offer are often worth the extra cost.
There isn’t an industry-wide standard for how much a home must be worth in order to qualify for high value homeowners insurance. Many insurers only write high value policies for homes that are worth at least $750,000 or $1 million. Some insurance companies, however, offer these policies to homeowners whose residence are worth substantially less -- $300,000, in some cases.
How homes are valued for high value homeowners policies differs slightly from insurer to insurer. It’s not uncommon, however, for insurers to send an appraiser to a home to value the home and its contents. An in-person appraisal is often the best way to get accurately determine how much a home and the items inside it are worth.