High Value Homeowners Insurance Program

The Finest Homes Deserve the Finest Insurance

  • Designed for the Wealthy, Affluent & High-Net-Worth Individual
  • Chubb, PURE, AIG’s Private Client Group (PCG) & Cincinnati Insurance
  • Deductible Options to $500K
  • Liability Options to $100 Million

Quotes from Only the Best Home Insurance Companies

Liability Focused Insurance Packages

Specialty Insurance Companies for High-Net Worth Individuals

Coastal Insurance Solutions is the leader in High Value Home Insurance. We know that owners of luxury homes inherently present a lower risk for insurers and therefore, they deserve to pay the lowest premiums possible while maintaining broad coverage and world-class customer service.

Coastal Home Insurance Solutions knows the emotional and financial investments involved in owning a high value home and our dedication to protecting you and your family’s assets is our #1 priority.

Call today (631-782-3175) to speak with one of our underwriting experts.  Fast Quotes, A.M. Best Rates & Free Advice.

Invest Wisely in High Value Home Insurance (HVHI)

As a successful financial individual, there’s a good chance that you’ve invested a lot of money in your home. If your home has a very high value, then there’s also a good chance a typical homeowner’s insurance policy isn’t right for you. This is especially the case if you have expensive valuables and furnishings.

Since we’ve been working with high net worth individuals for many years, we can help you find the right homeowners insurance policy for your needs.  We team up with the most popular, top-rated insurance companies in the industry (like PURE, AIG, Chubb & Cincinnati) and can easily provide you with a wide range of policies that come at a very competitive price.  For personalized quotes and service, please be sure to get in touch with one of our agents today.

Standard Homeowners Insurance Policies May Not Be Enough

Standard home insurance policies have caps when it comes to contents coverage for various items.  If you have items that exceed the capped amount, you will have to buy separate endorsements or insurance riders to cover the extra value.  When it comes to coverage for items such as firearms, jewelry, silver and furs; standard homeowners insurance policies usually cap the coverage at one or two thousand dollars per item.  You can consider getting a high value insurance policy from insurance companies that cater to the high-wealth individuals with various valuable collections.  These specialized insurance companies understand the needs of high net worth elites and have customized programs to protect your assets and unique lifestyle.

When it comes to contents coverage, homeowners policies cap the coverage at fifty to seventy percent of your property’s value. If you’re a high wealth individual, then this is probably not enough.

What Constitutes a High Value Property?

Depending on the insurance company you plan on using, you should know that some of them can offer high value property insurance if your home has a value of more than $750,000.  In general though, insurers require that your home be worth a minimum of $1,000,000 and your net worth above $5,000,000.

Since each company can offer you its services based on the value of your home, it’s a good idea to shop around in order to find one that provides proper coverage for an affordable price. If your home exceeds the standard caps for traditional home insurance companies, then we recommend that you get in touch with a local, independent agent, like Coastal Insurance Solutions, so they can help you find the right insurance company for your needs.

Do I Need Special Insurance If I Have A Luxury Home?

If you own a high value home, there’s a good chance you also have guests and staff living in it. If you have high-end items on display, then your number one concern is theft.  If you also have a large wine cellar with expensive wine, but also many high value items, including Persian rugs, expensive works of art, etc, then it can be difficult to convince a standard insurer of their value following a loss. This is especially true if the items appreciate in value.

To have the peace of mind you’ll be covered in such events, you need to work with an experienced insurer that understands your concerns and can offer you the type of insurance you need to be fully protected in case the unexpected happens.

Understanding High Value Home Insurance-What Are Your Coverage Options?

This type of insurance will actually provide you with all the coverage that a standard homeowner’s insurance policy offers and more. For instance, if a significant part of your home is damaged, then a high value home insurance policy can pay you the amount of money required to rebuild it to its initial value and state.

On top of that, a standard homeowner’s policy has caps when it comes to contents coverage for various items and categories. HVHI providers understand the fact that your coverage needs are much greater than those of a typical policy. To meet your coverage needs, they’ll be more than happy to provide you with a wide range of coverage options.

Umbrella liability and excess liability coverage:

If you’re a wealthy individual and someone injures themselves because of you, then, in many cases, they’ll attempt to take advantage of you as much as much as possible.  Fortunately, you can protect yourself in such scenarios by having excess liability insurance. This type of coverage will help you defend potential lawsuits filed against you, including the costs of any potential restitution.

Cover domestic help with liability insurance:

Having domestic help means that you’re more exposed to the risk of being sued.  It’s a good idea to carry extra liability coverage.  Obtaining this coverage will help you cover the medical expenses of employees that injure themselves while working in your home.  This is super important for individuals that own a high value estate with live-in caretakers, nannies and property managers because workers compensation coverage for full-time employees is traditionally excluded under a standard homeowners insurance policy.

Flood insurance:

If your home is flooded, then a traditional homeowner insurance policy won’t cover you. To make sure your fully covered, you need to get flood insurance provided by the NFIP. As a high value home owner, getting flood insurance from the NFIP isn’t always enough, so be sure that you consider extra insurance from a reliable insurer that can offer you the right amount of coverage.

Identity theft insurance:

Identity theft has become a lot more rampant in the past several years, so if you have an excellent credit rating, then you may very well become the next target of identity thieves. To protect yourself from it, it’s recommended that you buy an identity theft insurance policy.

Ransom and kidnap insurance:

As a high worth individual, there’s a greater chance that you would be kidnapped than the general population.  Depending upon your profile, high-net worth insurers can offer kidnap and ransom insurance if you travel frequently or are in the “highlight” often.

Coverage for vacation homes:

There are many insurance companies out there that will allow you to add coverage for other structures, including vacation properties, secondary homes, pool houses and more. If you combine this coverage into one single policy, you’ll have the best chance to protect your assets properly while getting the lowest rate.

Medical coverage for your pets:

Depending on your insurance policy, some of them can even extend to your pets. Thanks to this type of coverage, you’ll be covered in the event your pets cannot live in your home anymore due to a disaster or if they should become sick.

Property Values and How Insurers Determine Them

In order to determine the value of your mansion for instance, insurers usually send appraisers to your home to assess it. They’ll document your belongings, including construction, custom materials, but also antiques, collectibles, artwork, jewelry and more. If you think that certain items were valued at less than their worth, then you can have a second appraiser sent over to re-evaluate them.

As you purchase valuable items, renovate, and redecorate your home, its value can change significantly. Because of that, insurance companies may conduct periodic assessments. In general, these reviews should be conducted every 5 years.

Let an Independent Agent Help You

As the owner of a high value property, you need to get the right coverage for it.  Coastal Insurance Solution teams with only the finest, top-rated insurers in industry such as PURE, Chubb, AIG & Cincinnati.  After all, the finest of homes deserve the finest insurance.

Our agents have taken a pledge to offer ethical and honest advice, but also the best possible customer service. Contact a Coastal Insurance agent today and see how you can get the coverage you need to protect your assets without breaking the bank.

Insurance Programs currently available:

  • High Value Homeowner’s Insurance
  • High Value Condominium Insurance
  • High Value Cooperative Insurance (Co-op)
  • Luxury Waterfront Homeowner’s Insurance
  • Secondary/Seasonal Homeowner’s Insurance
  • Rental Dwelling Insurance
  • Personal Auto Insurance
  • Excess Liability Insurance
  • Umbrella Insurance
  • Collector Car Insurance
  • Watercraft Insurance
  • Aircraft Insurance

High Value Homeowners Insurance Discount Programs

  1. Full Time Live-in Caretaker Discount
  2. Low Temperature Monitoring System Discount
  3. Water Leak Detection System Discount (with or without alarm)
  4. Permanently Installed Generator Discount
  5. Gas Leak Detector Discount
  6. 24 Hour Signal Continuity Discount
  7. Sprinkler System with Water Flow Discount
  8. External Perimeter Gate Discount
  9. Lightning Protections System Discount
  10. Perimeter Security System Discount
  11. Central Station Fire/Burglar Alarm Discount