High-Value Home Insurance

High-valued homes have some unique coverage considerations that need to be considered when reviewing coverage options between Insurance Companies.   Our Insurance Agency has access to four specialty markets that handle the higher replacement cost homes. The following are some key coverage areas that should be reviewed when insuring your home:

EXTENDED REPLACEMENT COST: Covers the cost to repair or rebuild your home to its original condition even if the cost exceeds your policy limit (200%) of coverage limit with the option to endorse to guaranteed replacement cost)

CASH SETTLEMENT OPTION: Cash out option if you choose not to rebuild your home after a total loss up to the dwelling coverage limit on your policy.

CONTENTS REPLACEMENT COST; Automatically provides coverage for your contents without applying depreciation or requiring replacement of item.

LARGE LOSS DEDUCTIBLE WAIVER: Optional endorsement waives all other peril deductible for losses that exceed $50,000, but deductible on the policy has to $25,000 or less.

BACKUP OF SEWERS AND DRAINS: Provides coverage up to your dwelling limit to your home and contents if you sustain a loss from drain or sewage back up.

FUNGI COVERAGE: Optional endorsement to increase coverage for losses due to mold or bacteria up to the insurance of your home.

LOSS MITIGATION REIMBURSEMENT: Claims payment includes up to an additional $2,500 for installation of approved loss prevention device that would prevent or mitigate a similar loss

AUTOMATIC COVERAGE FOR TRUSTS AND LLCS: If the sole purpose of the entity is ownership in a home then coverage is automatically afforded to that entity even if it is not listed.

HOME SYSTEMS PROTECTION: Optional endorsement to include coverage for the breakdown of HVAC and other systems as well as appliances and electronics.

SERVICE LINE COVERAGE: Pays to repair or replace homeowner-owned exterior underground piping or electrical service lines.

JEWELRY COVERAGE: Amount allotted for collectible jewelry $5,000 sublimit increased to $50,000 if contents coverage is 50% of Coverage A.

IDENTITY FRAUD: Coverage up to $25,000 for expenses you incur as a direct result of identity fraud.

RISK MANAGEMENT SERVICES: Experts on staff provide complementary risk management and loss mitigation guidance.

PERSONAL INJURY: Coverage for libel, slander and defamation up to policy limit.

DEFENSE COSTS: Coverage for attorney fees included outside of policy limits.

HOME CYBER PROTECTION COVERAGE: Optional endorsement for cyber attack, cyber extortion, online fraud and data breach limits: $25K, $50K,$100K, $250K, $500K.