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High Value Home Insurance

High Value Home Insurance

High-value home insurance was developed for properties where policy limits are usually outstripped by claims. Why does this happen? It’s because high-value homes are much more expensive to repair or replace due to the quality and cost of their components. This includes:

  • High-end or imported finishes and architectural elements
  • Top appliances and built-in amenities
  • Energy-efficient additions like thermal windows
  • Extensive landscaping and features like swimming pools

What would happen if your home is worth $1.5 million but your homeowner policy is capped at $750,000, as is often customary? That’s a difference of $750,000 — twice the limit of the policy.

If the home were destroyed by a fire or severe storm, where would the extra $750,000 come from to restore it to its original condition? A high-value home insurance policy is designed to cover that gap, so it doesn’t come out of your own pocket.

Does High-Value Home Insurance Provide Better Coverage?

You get some perks with high-value home insurance that you won’t find with conventional homeowner policies. For instance, one can assume that someone with a high-value home also likely has more expensive personal belongings. Therefore, a high-value home insurance policy provides higher limits on compensation for these items in case of damage or loss to fire, natural disasters, vandalism, or theft.

You’ll also enjoy these extras:

  • More comprehensive coverage of valuables, including fine art, antiques, jewelry, collectibles, furs, firearms, and precious metals
  • Coverage for landscaping elements, often not covered with regular policies
  • Automatic additional living expenses (aka loss of use coverage), in case your home is uninhabitable during repairs or reconstruction

You also get a better selection of replacement cost options. For example, you may be able to get guaranteed replacement cost for the most expensive items, no matter what their price.

Where Can You Purchase a High-Value Home Insurance Policy?

You can buy high-value home insurance from Spangler Insurance, your Washington independent agency. Why are independent agents preferred?

  • Better range of insurance options for policy customization
  • Knowledge of the local real estate market and property values
  • Ease of bundling multiple insurance policies, like home plus auto
  • Personalized service you don’t get with big impersonal companies

Call us today at 206-329-7447 to inquire about a high-value home insurance policy to protect your property above $750,000. If you prefer, start a policy online, and one of our agents will reach out when you’re ready.