When looking to buy high value home insurance, it is worth noting that the majority of insurance policies offered are likely to only provide a standard level of cover.
Homeowner policies have limitations on coverage for valuable items. For high net worth individuals this could be a problem as a basic policy may be insufficient when it comes to protecting your high value homes and contents.
In this case, a specialist insurance policy can offer numerous features and benefits that would better suit the needs of those requiring that extra level of cover. And many people mistakenly rely on their homeowner insurance to protect their treasured possessions such as jewelry, fine art, pools, lawn and high valued collectibles.
If you have a high valued home, it is important to protect your investment with a high valued homeowners insurance policy. Many homeowners have to settle for the most basic form of coverage due to financial restrictions but if you are in a position to afford a large home, you should know the advantages you gain from your insurance coverage.
Advantages of Specialist Insurance Policies
There are many advantages when choosing high value home insurance, such as specialist cover for Art & Antiquities, Identity Theft Fraud Cover, and Contents Cover for students at university. All policies are likely to include specialized, around the clock telephone assistance; with help-lines that include Emergency Property Assistance, Family Legal Protection and Telephone Counseling - so you always feel as though you're in safe hands.
Your home is considered to be "high value" when the replacement cost of your home exceeds $ 1,000,000. Should you require a High Value Home policy, there are a few important issues you need to consider.
Most high value homes come with an insurance appraisal; the appraisal fee is either covered by the insurer or split with the homeowner on a 50/50 basis.
Wine cellars or wine collections can be insured, within varying limits.
Some insurers offer replacement cost with no obligation to rebuild without deduction for depreciation.
Limit of Assets Covered
High value policies will often carry higher limits of jewelry and business tools or equipment.
Antiques & Fine Art
Antiques and fine art can be insured to replacement cost, even if the works themselves are irreplaceable.
Mortgage Rate Protection
Some insurers will guarantee your mortgage rate should the rates increase during the reconstruction of your home.
Aside from the excellent quality of the insurance, what is perhaps the most important thing to remember when considering buying specialized insurance is that in most cases you will be provided with an experienced Personal Account Manager, who will focus all their efforts on making sure your policy runs smoothly. You'll also be provided with a Personal Claims Advisor, who will strive to make any unfortunate incidents as stress-free as possible.
If you would like more information on how much high value home insurance is likely to cost you, then it is recommended that you get a quick insurance quote today. We at Goldmine Insurance services specialize in valuable articles insurance and appreciate the significance of protecting your most treasured possessions. We provide you with a level of financial protection and personalized service not available from others.
Contact a specialist today at firstname.lastname@example.org.