High value homes are generally categorized as those with a value in excess of $1 milliion. For homes with this kind of value, sometimes standard homeowners insurance is not the ideal fit and doesn’t recognize the unique coverage needs of high value homeowners. That is why it is important to work with an agency specializing in this type of coverage.
In addition to standard homeowner's insurance coverage, we are able to offer our high value homeowner clients additional coverages including:
- Property Insurance - Extended dwelling replacement value as well as “all risk” coverage
- Contents - Covered at replacement cost.
- Enhanced coverage – For collectables including art, computers, jewelry, furs, silverware, guns, and more.
- Loss of use coverage - For living expenses if your home is damaged.
- Personal Liability - Increased limits of liability and encompassing umbrella liability protection. In addition, coverage for domestic employees is available as well as for use of golf carts
- Identity Theft Insurance - Many of our insurance companies now include coverage for losses due to identity theft.
There are limitations on who can qualify for this specialty program. Generally, clients and their homes need to meet the following criteria:
- Owner occupied single family home
- No prior bankruptcies, tax, or credit liens.
- Replacement cost value of the home must be at least $300,000.
- Above average credit score.
- No more than 2 non-weather related claims
- Home may not be more than 20 years old
Contact one of our offices in Nanuet, Clifton Park, or Hauppague, New York, today to learn more about our specialty programs specifically for the owners of high value homes.