The appropriate insurance to cover high value homes is as unique as the homes itself. From top to bottom, the finishes, construction, outdoor livings spaces have all been carefully and thoroughly thought out. Your insurance policy should be very specific to the exact construction of your home. Here are our top tips for why you need an insurance specialist to help your protect your investment.
- Prepare for A lot of Questions! You should be asked a lot of detailed questions so prepare to have a relatively long conversation with your insurance agent. This is the only way they can properly put together an insurance package that is the right fit for you.
- Independent Agents Have Options. Independent insurance agents have access to multiple insurance companies and specifically, insurance companies that have plans tailored to high net worth individuals and families and high net worth homes.
- The Type of Policy Matters. An insurance agent who works with high net worth and high value homeowners should have extensive knowledge on policy language, forms, and details. The type of policy your home is insured on is a big deal. You should be insured on an HE7, high value home policy.
- Do You Have Valuables? Your valuable items like jewelry, artwork, and instruments only have limited coverage on a standard homeowners policy. A high value home policy gives a little extra coverage, but typically not enough to cover your valuables. Your insurance agent should ask your for an itemized list of all valuables along with appraisals, if applicable.