Insurance for High Valued Houses Not All Alike

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For consumers, the choices on the homeowners insurance market are various – often times depending solely on the preference and experience that they have had in the past from a particular insurance carrier. Maybe their parents were always insured by a certain company and they have just followed along with the same loyalty. Perhaps they were steered to a brand because of  an advertising pitch that they saw during a football game.

When it comes to insuring “high valued” homes – and for this discussion we will categorize high value as homes with a market value upwards of $750,000 – there are certainly companies that have coverages that are more suited for this type of risk. Many insurance companies tend to “run” when the values reach this level. It is out of their comfort zone and they realize that vanilla, basic coverages will probably not match the desires, needs, and expectations that come with owning such a valuable home.

At FPR, we represent three companies (ACE, Chubb, and Fireman’s Fund) that specialize in insuring the affluent homeowner. The policy language of these companies offer the extra bells and whistles that a standard homeowner form will fail to do. They also offer in- home appraisal services, personal risk management advice, and superior claims service. These insurance carriers can also get very creative when it comes to crafting a policy that is “outside the box” and meets your specific desires as far as coverage is concerned.

If you live in a high valued home or you are purchasing one, contact us – no matter where you live in the country – and we can provide you with a detailed quote.  Our carriers don’t run of get nervous when your home values reach higher limits – it is what they specialize in.

 

 

 

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