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Home > Blog > What is High Value Home Insurance?
WEDNESDAY, APRIL 28, 2021

What is High Value Home Insurance?

High value home insurance covers your home if its value exceeds $750,000. A basic home insurance policy may not offer the limits you need for your high value home, so it is important to know your home’s value and speak with an insurance agent about the coverage you may need.a car parked in front of a house 

What Does High Value Home Insurance Cover? 

High value home insurance policies come with a lot of the same coverage as a regular policy, although higher limits are available to cover your high value home and belongings. Coverage available includes:  

  • Property insurance: This protects the physical structure of the home. It can include dwelling replacement cost coverage, which ensures that if a covered claim occurs and the home is lost, the insurance carrier can pay for its replacement. It covers loss and damage related to fire, wind, hail, lightning, smoke, explosions, theft, vandalism and more. 

  • Personal belongings insurance: Verify that the belongings insurance you select is high enough in value to cover the value of all of your assets. This should include everything from your clothing to your furnishings. Personal belongings coverage also covers claims related to fire, lightning, theft, vandalism and more. 

  • Loss of use: In some situations, the property becomes unusable. This could be due to new construction in the area or another factor. This is a rare risk, but because of the value of these homes, your policy should still cover it.  

  • Additional living expense coverage: Additional living expense coverage provides compensation for expenses related to temporarily moving if your home is rendered uninhabitable due to a disaster. If a tornado destroys your home, for example, additional living expenses (ALE) can cover hotel room expenses and more. 

  • Valuable article coverage: Many who need high value home insurance also need valuable article coverage. This extends beyond your basic contents insurance to cover high-end valuables you may have. This includes jewelry, furs, computers or other valuable electronics, art, guns, valuable silverware or other items. You'll need to specifically list the items that require coverage and their value.  

  • Personal liability: Becoming liable for the losses someone else faces can be taxing and very expensive. However, if you are responsible, this component of your home insurance can cover the costs up to the policy limit for the losses and your legal fees. This can include libel and slander coverage, medical payment coverage (up to a certain value) and credit card coverage.  


What Homes Qualify for High Value Home Insurance?  

High value home insurance is home insurance that covers homes with a value of $750,000 or higher. If your home is valued at this amount, a basic home insurance policy may not cover all of your needs. This is because home insurance policies have set limits when it comes to coverage which may not cover the increased value and risk of your home.  

How Much is High Value Home Insurance? 

The cost of high value home insurance may be more expensive than regular home insurance on average, but rates depend on a variety of factors aside from your home’s value. Factors influencing your high value home insurance premiums include your: 

  • Location 

  • Credit score 

  • Deductible 

  • Coverage limits 

  • Claims history 

  • Lifestyle 


Homeowners who have previously filed a claim on their home insurance policy may pay higher premiums than those without. You can often change your coverage limits and deductible to save money on home insurance, but it is important to consider many factors before doing so. Lowering your coverage limits can save you money on insurance, but it also leaves you open to more dangers, especially when you have a high value home or high value items. Your deductible can also help lower your premiums if you choose a higher deductible, but this also means paying higher premiums out of pocket after an accident. 

Home insurance premiums are calculated primarily based on your risk level. The more risk you face of filing a claim, the higher your home insurance rates may be. This also applies to how expensive those claims will be. If a claim will cost your insurer more in compensation, you will typically pay more for your home insurance in order for the insurer to offset their risks. 

If you are not sure whether or not your home falls in line with high value, have your home’s value evaluated by an expert and speak with your insurance agent. It is important to have the right coverage available to protect your assets in case of a storm, accident or disaster. Connect with an insurance agent today.
Posted 4:29 PM

Tags: high, value, homeowners, policy, coverage, insurance
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