The COMPLETE Guide to High End Home Insurance

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High End Home Insurance Guide

Owners of high end homes have specialized insurance needs. Standard insurance can leave gaps in coverage and typically doesn’t offer enough coverage in key areas. High end home insurance policies address the needs of this unique market, providing numerous ways to customize protection, often with a lower overall cost.

Homes with a rebuild value of $1 million or more can qualify for these elite policies, opening more options to protect your home and family affordably — and without compromising on the coverage you need.

Bright and modern open-plan living room with elegant decor, perfect for high net home insurance policies.
Luxurious two-story house with stone and dark siding, ideal for high net home insurance, showcasing evening ambiance with interior lights on.

What Is High End Home Insurance?

High end home insurance refers to specialized coverage designed for households with more to protect, including high-value homes, valuables, art, collectibles, and more. A high end insurance package also adds customizable liability coverage that considers your entire lifestyle, offering personalized protection with higher available coverage limits.

High end insurance packages use multiple policies that work together to offer complete coverage that matches your priorities. Each of these policies offers more customization options compared to standard policies and, as importantly, much higher available coverage limits.

Who Needs High End Home Insurance?

Successful families and high net worth individuals can benefit from high end home insurance policies that offer higher available coverage limits combined with more flexible policy language.

  • Households with luxury homes with a rebuild value of $1 million or higher: Discover how to insure your fine home fully, down to the last intricate detail.
  • People who need liability insurance of up to $50 million or more: Match your coverage to your potential risk, choosing in increments starting at $1 million of coverage.
  • Families with art or collections: Craft your coverage to fully protect the things that make your home uniquely yours. High end insurance packages allow you to focus your coverage according to your priorities
  • People with multiple homes: Insure your luxury homes, second homes, and vacation homes using a well-designed package that protects your home investments — combined with liability coverage that travels with you.
  • Successful households that need flexible coverage: Life often changes quickly; high end home insurance provides flexible coverage that easily accommodates life’s many changes.
Luxurious living room in a high-end home, showcasing a modern design with a vaulted ceiling adorned with exposed wooden beams and a grand stone fireplace, embodying the sophistication and security covered by high end home insurance.

Differences Between Standard Home Insurance and High End Home Insurance

Standard policies work well for broad market needs, offering reasonable protection for average homes and common households. However, standard home insurance policies usually cap coverage for dwellings at $750,000 or even lower, typically limiting liability coverage to $300,000 to $500,000 for most policies as well. Standard policies also follow a strict structure, only allowing minimal customization.

By contrast, high end insurance protects homes with rebuild values of $1 million or more, pairing this coverage with customizable options to protect valuables and personalized liability insurance to safeguard the success you’ve built. High end policies address the needs of a diverse group of successful households, offering flexible policy language rather than fixed-form policies found with standard insurance.

Standard broad market policies also often limit personal property coverage for belongings to a fixed percentage of the dwelling’s insured value, in many cases, just 50% to 70% of the dwelling coverage. This fixed structure forces policyholders to conform to the limits of the policy – or accept the risk.

By comparison, high end insurance allows flexible coverage, recognizing that for many high-net-worth homeowners, the value of their belongings may far exceed the value of their home. Build an insurance strategy tailored to the way you live.

The COMPLETE Guide to High End Home Insurance

  • Homes with a rebuild value of $1 million or more can qualify for high end insurance to protect your home and lifestyle.
  • High end insurance provides customized coverage using multiple specialized policies designed for high net worth households.
  • With more control over policy structure, high end home insurance often offers better coverage at a lower cost.
  • High end insurance can address the coverage gaps left by standard insurance policies, allowing you to build a custom-tailored solution affordably.

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What Types of Coverages Does High End Home Insurance Offer?

High end insurance can utilize multiple policies that dovetail together to provide seamless coverage. But with adaptable provisions and the ability to set your own deductibles, high end insurance packages become built-to-order solutions that address your unique needs and coverage priorities.

Customize Your Coverage to Fit Your Lifestyle

  • Unparalleled coverage for luxury homes
  • Insure second homes and vacation homes
  • Coverage for yachts, watercraft, aircraft, and other vehicles
  • Customizable coverage for fine art and collectibles
  • Protect valuables, jewelry, and watches
  • Insure against damage from hurricanes, floods, earthquakes, and wildfires
  • Overseas travel insurance
  • Kidnap, ransom, and extortion insurance
  • Cyber liability insurance
  • Identity theft coverage
  • Protect your family with personal liability limits up to $50 million or more
  • Liability coverage for fiduciary liability or not-for-profit director liability
  • Coverage for domestic workers and employment practices liability

High End Home Insurance

Protect your fine home, luxury condo or co-op, and all your belongings. Insure every last detail, including improvements, additions, hardscaping, and other personalization. Your protection for personal property travels with you, at home, or when away.

Protect Luxury Autos and Collections

Pair your home policy with a policy to protect luxury autos and collections. Options include agreed value coverage, in which you and the insurer agree to an insured value, and generous liability coverage limits suitable for high net worth households.

Insurance for Boats, Yachts, and Watercraft

Protect your boat, yacht, jet ski, or catamaran with a policy customized to your needs. Coverage can include wreckage removal and fuel spills, in addition to other liability risks. As with other parts of your coverage, you can set your own liability limits to match your needs and safeguard the success you’ve built.

Customized Liability Insurance to Protect Your Family

As a cornerstone to your coverage, your personal liability insurance provides a flexible way to insure against life’s uncertainties.

  • Excess liability policies offer affordable protection by expanding the liability coverage limits of your other policies, such as home and auto.
  • Umbrella policies expand coverage limits while also adding additional coverage types.

If a loss reaches the coverage limits of the base policy, the excess or umbrella policy provides additional coverage up to the limits you’ve chosen. This structure helps keep premium costs lower by making the expanded limits secondary coverage while providing seamless liability coverage of up to $50 million or more.

Risk Management and Expert Consulting

Among the many white-glove services offered by high end insurers, risk management focuses on ways to prevent a loss. High value insurers work with high net worth households across the nation and across the globe. This world of experience provides unique insight into which risks policyholders may face, how losses can occur, and possible ways to prevent a loss or reduce loss severity.

The process begins with your experienced insurance advisor, who can help you identify potential risks and build a comprehensive strategy to protect your home and family. In some cases, risk management specialists from the insurers themselves may work with you to help you understand where you may have risks and which steps you can take to address those risks.

Top 5 High End Insurance Carriers

A select group of insurers caters to the high end market, offering personalized service in countless ways to customize your coverage.

  • PURE Insurance: With PURE, policyholders are members, a unique structure that provides reserves for claims while returning the excess to members whenever possible. PURE only insures high net worth households, placing the insurer’s entire focus on valued members like you.
  • Cincinnati Insurance: The Cincinnati Executive Capstone program insures homes starting with a rebuild value of $1 million and provides popular options such as flood coverage, excess flood insurance, and deductible waivers for larger losses.
  • Chubb: With Chubb Masterpiece, you’ll find flexible coverage that lets you choose between a full rebuild or a cash settlement, giving you the freedom to rebuild when and where you want.
  • AIG Private Client: Learn why nearly 40% of the wealthiest US households choose AIG Private Client. Protect one fine home, or several, as well as collections, exotic vehicles, and luxury watercraft. AIG’s Smart Build service can even help you design a home with reduced risk.
  • Openly: Filling the gap for affordable premium home insurance, Openly focuses on making home insurance simple yet flexible. Policies offer up to $5 million in guaranteed replacement cost coverage, even if the rebuild cost exceeds your policy’s coverage limits. Adjust your policy as desired to focus coverage where you need the most protection.

Personalized High End Home Insurance Packages Tailored to Your Lifestyle

Successful households have specialized insurance needs. The team at Coastal Insurance works with high net worth households nationwide to provide coverage solutions at the best prices possible. Reach out to our experienced advisors to learn how a well-designed, high end insurance package can protect your home and assets while also saving you money.

Our team of state-licensed insurance advisors will help you compare rates from the finest insurance high end insurance companies, including Chubb, PURE, AIG Private Client, Cincinnati, and Openly.

Protecting your legacy is our top priority.

About the Author

David W. Clausen is the CEO of Coastal Insurance Solutions. With over 20 years' experience and over 1 billion insured, David and Coastal Insurance Solutions are the recognized leaders in high net worth insurance. For the fourth consecutive year, David Clausen has been awarded Top Producer by Insurance Business America and the 2023 Agents of The Year by Insurance Journal. David is a trusted high net worth insurance expert who’s published more than 200 articles. His articles & press releases have generated over 500K pageviews and has been featured on blogs such as Google News, Yahoo Finance, CNBC, Market Watch, Fox, The New York Times, etc. David founded Coastal Insurance Solutions in 2001 after earning a BBA from the State University of New York College at Oswego.

IBA's Top Retail Broker 2023
Digital badge for the 2023 Insurance Agents of the Year Award, featuring intricate design elements that symbolize excellence and achievement in the insurance industry.
IBA's Top Retail Broker 2023
Digital badge for the 2023 Insurance Agents of the Year Award, featuring intricate design elements that symbolize excellence and achievement in the insurance industry.

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