What Is Considered High-Value Home Insurance?

A high-value home is typically more costly than an average home. Whether it’s a historic property, a condo or luxury apartment, a house of architectural importance, a home with unique features, or rare or expensive materials, you want to ensure you have sufficient insurance protection for your valuable investment.
outside of a home

An expensive home can present insurance challenges since the property is valuable, and the homeowner’s belongings are also costly. High-value home insurance can help safeguard your home and personal property with expanded coverage limits.

High-value home insurance offers homeowners several benefits, which may include:

Expanded coverage availability for structure coverage, home contents and scheduled property such as jewelry, art and antiques

Guaranteed replacement cost, which could pay for the total cost to repair or replace your home even when the amount exceeds your policy limits
Increased liability coverage with high limits to protect you in the event of a lawsuit due to injuries occurring on the property or off the property
Coverage for sewer backup
All risks coverage for home contents
Landscaping coverage for items such as shrubs and trees

Diamond Insurance Group can help you assess and potentially minimize your risk exposure.

How Much High-Value Home Insurance Do I Need?
Determining how much home insurance you need can be challenging to decide independently. We can help you evaluate and determine the amount you should have. You will want to consider several factors when choosing that amount, including:

Your home’s value: The amount of high-value home insurance you need should be based on your home’s replacement cost value.
Your personal property amount: For personal property insurance, you likely want to have enough coverage to replace all of your personal belongings, including clothing, furniture, appliances and décor. Creating a home inventory is helpful to determine if you need to adjust the amount of high-value items you’ve insured.

Your liability risks: The base limit of liability coverage is generally higher for high-value homes, and if you have a pool, trampoline, swing set or entertain often, you may want to increase your limit or add an umbrella policy.
Your unique circumstances: High-value home insurance can usually be customized with endorsements, such as identity theft, water backup and service line coverage to give you a policy that meets your needs

What Does High-Value Home Insurance Cost?
High-value home insurance is the protection you need for your dream home. Generally, you cannot obtain this coverage online, so you’ll want to meet in person with your agent to get the policy you want.

Many different options are available, so the cost of your premiums will depend on your specific circumstances. Diamond Insurance Group can help you set up a plan that best protects your valuable assets.

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