High Value Home Insurance

Owning a high-value home comes with a particular set of responsibilities. One of them is making sure you have the insurance coverage you need to protect it and all the assets that exist with it. That’s where high-value home insurance comes in. 

What Is High-Value Home Insurance? 
A high-value home insurance policy addresses the specific needs of homeowners with homes that typically value above $750,000 but below $1 million, depending on the insurance provider. These types of homes may need more coverage than a standard home insurance policy. While gaps in home insurance coverage could be filled by other coverages, investing in a high-value insurance policy may be a better option to ensure your assets are protected. 

What Does High-Value Home Insurance Cover? 
High-value home insurance policies typically include expanded limits or enhanced coverage for the following: 

• Structural repair or replacement—Many high-value home insurance policies include extended or guaranteed replacement cost coverage, which means that the insurer may cover the cost to repair a home to its original condition even if the cost exceeds the policy limit. 
• Possessions—High-value home insurance may insure items in your home at the replacement cost, rather than the current value, which often means a higher payout.
• General liability—High-value policies may include higher limits for personal liability, medical payments and loss assessments. They may also cover costs needed to defend the policyholder against claims of slander, libel or defamation.
• Additional living expenses—If you cannot live at your home while it is being repaired or restored, high-value home insurance may have higher coverage limits for living expenses, such as hotel stays. 

Do I Need High-Value Home Insurance? 
High-value home insurance may be beneficial for you if any of the following statements is true: 

• Your home is worth $750,000 or more.
• Your home is a heritage home.
• Your home has older construction features no longer found in common practice.
• Your home has unique architectural elements.
• Your home uses materials that are difficult to replace.
• You own expensive or priceless fine art, rugs, collections, jewelry, wine or other items that are kept in your home.
• You own higher-end appliances or fixtures that aren’t found in standard stores.
• Your home has unique interior or exterior features, such as a guest house, swimming pool or custom landscaping. 

High-Value Home Insurance Quote in Alexandria, VA 
If you need a high-value home insurance quote, contact Kinneman Insurance. Our knowledgeable team of insurance professionals will be able to help you create a policy that is perfectly matched for your specific needs.  .