As a high value homeowner, you have additional responsibilities that the typical homeowner does not have. For one, your finely built home will require additional protection. Many high value homes contain structures and features that are not typically covered by the standard homeowner’s insurance policy, even if you raise your limits.
Your high value homeowner’s insurance policy will also provide coverage for your expensive valuables such as jewelry, furs, silver, gold, antiques, collections, etc. As a high value homeowner, you require higher limits and broader coverage than the typical homeowner to ensure your high value home and its contents are protected.
Coverage Options for High-Value Homeowners’ Insurance:
- Guaranteed Rebuilding Cost: This type of coverage will guarantee that your home is rebuilt in the same way that it was originally developed and at the same level of quality. This coverage will offer you protection even if the cost of replacement exceeds your coverage limit.
- Replace/Rebuild/Receive a Cash Settlement: This type of policy will allow you to be in control of any repairs or replacement. You will choose when and how to perform the duties.
- Sewer and Drain Backups: With a home at a higher value, an internal or external flood can leave you with substantial damages. This policy will cover the costs of cleaning, replacing, and rebuilding of any damages caused by the backup of your sewer or drains.
- Equipment Breakdown Protection: This type of policy offers comprehensive coverage for any appliances in case they fail either electrically or mechanically.
- Preventative Actions: This type of policy is intended to reduce the likelihood of a disaster to occur in your house. This may include installing lightning suppression systems, a burglar alarm, a back-up generator, low temperature sensors, and more.
- Jewelry Protection: This coverage option will cover the costs of lost, misplaced, or stolen jewelry.
- Neighborly Settlements: This coverage will protect you from lawsuits with your neighbors if something in your home causes damages to another’s home.
Perry & Carroll has a new market for offering special coverage for high value homes and we can help you protect your beautiful home. Contact us today and we can help you determine the next course of action for your particular insurance needs.