{"id":2246,"date":"2021-04-22T15:05:18","date_gmt":"2021-04-22T15:05:18","guid":{"rendered":"https:\/\/www.homeinsuranceking.com\/blog\/?p=2246"},"modified":"2021-04-22T15:05:20","modified_gmt":"2021-04-22T15:05:20","slug":"what-is-high-value-home-insurance","status":"publish","type":"post","link":"https:\/\/www.gethomeinsurancequotes.com\/blog\/what-is-high-value-home-insurance\/","title":{"rendered":"What is High Value Home Insurance?"},"content":{"rendered":"\n
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High-value homeowners insurance is designed for homeowners who have a high net worth as well as a luxury home. These policies typically offer higher coverage limits as well as better protection for other assets. <\/p>\n\n\n\n

High-Value Home Insurance explained<\/strong><\/h2>\n\n\n\n

While policies can vary by insurer, a high value home is typically a home that has a value above $750,000 while other insurers may only consider homes worth over a $1million as high value. <\/p>\n\n\n\n

In many cases, a standard homeowner policy<\/a> will not provide enough coverage for high value homeowners who may need additional coverage for not only their home but the contents as well. Antiques, art and jewelry are often capped on a standard homeowner policy which can leave high value homeowners underinsured.\u00a0<\/p>\n\n\n\n

Increased coverage levels of high value policies<\/strong><\/h2>\n\n\n\n

There are a number of differences between a high value policy and a standard homeowners policy. Here are some of the advantages that a high value policy offers:<\/p>\n\n\n\n

Dwelling Coverage<\/strong><\/p>\n\n\n\n

The dwelling portion of your policy will cover damage to your home\u2019s structure and pay to rebuild your home<\/a> if it is destroyed by a covered peril up to your coverage limits.<\/p>\n\n\n\n

A high-value policy will usually offer extended replacement cost as a standard feature of the policy. This will extend your dwelling coverage<\/a> by 125% to 150% of the cost to rebuild the home. This can come in handy if your home is destroyed by a major weather event.<\/p>\n\n\n\n

After a natural disaster, building costs typically skyrocket due to higher labor and building materials costs. This additional coverage will ensure you can afford to rebuild your home even if that cost has gone up dramatically. <\/p>\n\n\n\n

In addition, many high value policies offer a cash out option which is not available with most standard homeowner policies. This benefit allows a homeowner to take the insurance check and rebuild elsewhere if their home has been destroyed. <\/p>\n\n\n\n

Contents Coverage<\/strong><\/p>\n\n\n\n

These policies also come with improved contents coverage which protects your personal possessions. While coverage details can vary by insurer, many high value home polices include the following for contents coverage:<\/p>\n\n\n\n