If you own an expensive, luxurious or upscale home, chances are you will need high-value home insurance. The right plan can help ensure your house and personal property are sufficiently protected with its expanded coverage limits. If you have a high-value home, contact the agents at Ifft & Palmer Associates LLC to find the plan that will best protect your investment.
What is a High-Value Home?
The definition of a high-value home may vary by insurer, but generally speaking, high-value homes are those valued above $750,000. These properties may be of historical or architectural significance or constructed from expensive or difficult-to-find materials. Replacement costs of these houses could reach $1 million or more, and standard homeowners policies may not be written to cover these expenses adequately in the event of a loss.
What Does High-Value Home Insurance Cover?
High-value home insurance typically covers your dwelling and your personal possessions in a more robust manner than standard homeowners insurance. High-value home insurance may also provide increased liability coverage. Although plans vary depending on several factors, the benefits of high-value home insurance may include the following:
Expanded coverage liability 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 policies vary, and the list above is not exhaustive. For more information on what a specific policy covers, contact Ifft & Palmer Associates.
What Does High-Value Home Insurance Cost?
With all the different options available, premiums on high-value home insurance vary depending on the circumstances. Specifics regarding each dwelling and the contents within will likely factor into the total cost.
The experienced agents at Ifft & Palmer Associates are ready to help you find the plan that best protects your valuable assets. Please reach out to them today at (412) 471-0500 for additional information regarding high-value home insurance.