High Value Home Insurance
High Value Home Insurance Information
High-Value Homeowners Insurance
A high-value home is typically categorized as a home with a value above $750,000, but some policies may only cover homes worth $1 million and up.
A standard homeowner insurance policy may not provide enough coverage for these homes and the contents within, such as antiques, art or even jewelry. Standard home insurance can fill in coverage gaps, but individuals with high-value homes could still be left significantly underinsured. If you underinsure your home, then you are doing yourself a disservice.
For owners of expensive, high-end properties, high-value homeowners insurance will provide the benefits that every property owner deserves. It will look a lot like standard homeowners policies, but it will contain tailored benefits that are designed for the exceptional liabilities you face in this location. You can achieve the perfect solution with the help of one of the dedicated agents at Keats Insurance Agencies.
Call us at 800-871-1992 or request your free quote online now!
More About High Value Homeowners Insurance
What is a High Value Home?
A high-value home is one that would cost substantial money to rebuild or repair following an unexpected, unavoidable hazard. Usually, these homes are valued at least at $750,000 or more.
What is High Value Homeowners Insurance?
Since standard homeowners insurance isn’t sufficient enough to fully cover homes priced at $750,000 and above, high-value homeowners insurance should be considered instead.
The coverage under high-value homeowners insurance looks similar to every other home insurance policy. Therefore, many people often wonder what’s the point of investing in additional protection. The main difference between these two policies is the limits offered. High value homeowners insurance offers higher limits of coverage for homes of higher value that a standard homeowners insurance policy may not cover.
What Does High Value Homeowners Insurance Cover?
You’ll generally be able to obtain the following coverage under your high-value home insurance:
Structure Protection: This insures your house in the event of damage from fires, weather, theft, vandalism or other hazards.
Detached Structures Coverage: Other buildings on your property – such as fences, carports, gazebos and detached garages - will have coverage.
Possessions Insurance: This pays for damaged belongings. Protection might cover everything from furniture to food in the pantry and computer systems.
Liability Coverage: If you accidentally harm someone else or damage their property, you can use this coverage to repay them. Coverage will often pay for incidents both on and off your property.
Additional Living Expense Protection: Do you need to move out temporarily after household damage? Let this coverage reimburse you for expenses like dining or hotel bills.
Additional policy floaters can be added to your policy such as:
Replacement cost value possessions coverage
Umbrella liability insurance
Earthquake and windstorm endorsements
Pet liability insurance
With additional coverage, you’ll be able to fully insure high-value items, including expensive possessions like jewelry, fur, art and similar possessions.
How Much is High Value Homeowners Insurance?
The cost of high value homeowners insurance depends on several factors: location, claims history, credit score, coverage limits, the value of your home and more. Speak to your Keats Insurance Agencies agent to learn more about how we can help you fully optimize your plan.