What is high value home insurance?
High value home insurance products are designed specifically for upscale, high-end, and luxury properties. Qualifying properties are valued higher than the average value and have unique features that make them ornate.
Standard home insurance policies may not offer high enough coverage limits to cover the required replacement cost if the home were to be destroyed and needed to be rebuilt. Any property that falls into this category qualifies, including condos, vacation homes, and rented dwellings.
High value home policies offer extra protection and higher limits. They also offer more protection for your contents, including collectibles, jewelry, and other items. You can customize plans to meet your unique insurance requirements.
Do I need high value home insurance?
High value home insurance is designed for people with luxury properties and high-priced real estate. But you may also want to consider this type of policy if you have expensive personal belongings, you have custom work done in your home or you own a heritage property.
You may want to consider this type of insurance if any of the following apply to you:
- Your home has a replacement value higher than $750,000
- You own a heritage home
- You own a green home
- You have valuables, art, wine, or collections worth over $25,000
- Your home is custom-built or has unique features
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