A standard home insurance policy may not adequately protect a high-value residence. If you live in a home that is considered valuable, seek insurance coverage that will allow you to rebuild or relocate if a disaster strikes.
Increased Coverage
One of the main differences between a standard home insurance policy and a high-value home insurance policy is the actual amount of coverage that is offered.
Because a high-value home is going to require more funds to rebuild or replace naturally, the insurance cap amount on a high-value policy will likely be significantly higher than the cap on a standard policy.
The increased coverage that is supplied will ensure that a property owner is not faced with financial loss if disaster strikes and their home is temporarily or permanently uninhabitable.
Better Inclusions
Some high-value home insurance policies come with better inclusions than a standard one. A high-value policy may offer better content coverage.
A high-value home insurance policy may automatically include a replacement cost clause. This means that if a property owner’s insured belongings are destroyed, they will be able to replace the valuable items without being burdened by depreciation concerns.
Inspection
Before you purchase a high-value home insurance policy, have your home inspected. During a formal inspection, the value of your home will be determined.
The contents of your home will also be taken into account. If your home qualifies for high-value home insurance coverage, take the time to compare high-value insurance products through a local insurance agent.
Contact Rich Insurance Agency LLC
Contact one of our Rich Insurance Agency LLC agents to discuss high-value home insurance policies. An agent who serves Kansas City, MO, will ensure that your high-value residence has the coverage it needs.
