Building The Right Foundation with High Value Home Insurance
A typical homeowners insurance policy may not sufficiently cover certain high-value homes. Fortunately, high-value home insurance exists to provide financial protection for owners of luxury homes. Contact I&E Insurance Agency in Point Pleasant, New Jersey, to learn more about our high-value home insurance policies.
What Is High-Value Home Insurance?
Like a standard homeowners insurance policy, high-value home insurance can protect the structure of your home and its contents. But high-value home insurance policies are designed to meet the additional coverage needs of luxury homes. These policies typically provide higher property coverage limits and more robust protection for personal property than standard homeowners insurance policies.
Who Needs High-Value Home Insurance?
The exact criteria for what’s considered a high-value home may vary; however, a home is generally regarded as high-value if the cost to rebuild it from the ground up exceeds $750,000. However, some insurers may only cover homes with replacement values of $1 million or more. Additionally, high-value home insurance can help cover homes of architectural significance, historic homes or homes with difficult-to-replace materials.
Consult I&E Insurance Agency for more information if you believe your home is high-value.
What Does High-Value Home Insurance Cover?
High-value home insurance has many benefits, including the following:
- More dwelling coverage—These policies often go beyond traditional homeowners policies by providing extended replacement cost coverage for your house and other structures on your property. Additionally, there may be a cash-out option, allowing you to take these funds and build a house elsewhere if your home is destroyed.
- Increased contents coverage—Your high-value home insurance can provide financial protection for your valuable assets (e.g., antiques and jewelry) by providing higher levels of contents coverage than traditional policies.
- Greater liability coverage—High-value home insurance can provide personal liability coverage with personal injury protection and may cover legal defense costs outside of your coverage limit.
- Additional coverage options—Your high-value home insurance coverage may come with several other coverages. Examples include the following:
- Increased forgery, credit card and counterfeit money coverage.
- Higher medical payment coverage limits.
- Automatic sewer backup coverage.
- Increased coverage limits for replacing trees and shrubs.
We’re Here to Help
Finding and maintaining the right home insurance policy is crucial to protect your investment in your property. Contact I&E Insurance Agency for more information on high-value home insurance and to get a personalized insurance quote.