High value presents special challenges in a variety of arenas, and homes are one of them. A high net worth home insurance broker has the expertise and experience to provide the specialized coverage necessary for high value and luxury homes.
While many elements of homeowners insurance are the same at every level, high value and luxury homes may need specialized coverage for a variety of circumstances, including:
- replacement cost coverage that exceeds policy limits
- generous living expense allowances during restoration/refurbishing
- jewelry coverage
- equipment failure coverage
- cash settlement options
Each of these features helps to address a more comprehensive issue: the value of these homes is not always easy to assess in a straightforward way, and includes a number of fluid components.
Making a House a Home
One of the challenges for insuring these homes comes from the many ways that owners modify or customize them to meet their needs, or from the contents of the home. A homeowner with a substantial art collection needs different coverage than a homeowner who has a wine cellar full of priceless bottles, or someone with three beautifully restored antique cars in the garage.
A high net worth home insurance broker can address these and other specialized concerns. Consulting with a specialist now can give you the peace of mind that comes from knowing that all of the things that make your house your home are protected.