Top A+ Rated High Net Worth Carriers
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Maryland High Value & Luxury Home Insurance
Superior Protection for Maryland’s Finest Homes, Autos & Collections
- Customized Coverage for Maryland’s Finest Homes
- Individualized Protection for Home, Auto, Liability, and More
- Designed for MD Homes with Replacement Value $1M+
- Excess Liability Protection up to $100 Million
World-Class Protection for Maryland’s Affluent Families
If you own several homes, luxury vehicles, or perhaps have an extensive wine or art collection, our custom-crafted insurance packages are designed for you. We’ve partnered with the most exclusive insurers in the nation, including Chubb, AIG, NatGen Premier, PURE, and Cincinnati Insurance to bring you customized packages that cover exposures, other policies may miss. You’ve worked hard to build your success. Let us help you protect your Maryland home, your family, and the legacy you’ve built.
Homeowners Insurance for Montgomery County and Other Areas
Many of our clients live in Maryland’s most exclusive locations such as Bethesda, Potomac, Gibson Island, or Rockville, MD. Our advisors have years of experience protecting Maryland’s luxury communities in Montgomery and Howard Counties.
Maryland’s finest homes, deserve the right protection. Our expert advisors help you find the best coverage for your dollar while ensuring confidentiality. Contact Coastal insurance today to discuss your needs. We’re independent advisors, which means our loyalty is to you.
What Makes Luxury Homeowners Insurance Different?
Most homeowners insurance policies cover similar types of risks. You’ll find broad coverage for risks like fire, lightning, wind and hail, and several types of water damage. However, a standard homeowners insurance policy may not provide enough coverage to rebuild a home worth $1 million or more.
Insurance specifically designed for luxury homes offers higher coverage limits and often even provides coverage for cost overruns. In a situation where your home suffers major damage or is completely destroyed, cost overruns for repairs can threaten the coverage limits on a standard policy.
High-value and luxury homes need special consideration for contents coverage as well. In addition to your fine furnishings and decor, you may also have art, collections, or other valuables you need to protect.
With a standard homeowners insurance policy, coverage limits can be frustratingly low for valuables. In many cases, coverage sub-limits can reduce your coverage to a fraction of the value, particularly for art, collections, and jewelry. A customized high-value homeowners insurance package provides higher coverage amounts and can even protect your valuables from additional risks not covered by a standard homeowners insurance policy.
We’ve been working with families like yours for years — in Maryland and throughout the US — to protect homes, autos, collections, and more. We work with some of the most exclusive insurers in the country to provide customized homeowners insurance packages that cover common risks as well as the risks missed by other types of policies.
Do I Need Special Insurance For My High-Value Home?
Coverage for your home and valuables are part of a comprehensive coverage solution. To complete your coverage, it’s essential to examine other risks, such as personal liability. A High-value homeowners insurance policy can do this in two ways.
First, you’ll find higher personal liability limits than those available with a standard homeowners insurance policy. This extended coverage can help protect your home, your assets, and even your future earnings from common liability risks. When there’s more to protect, you’ll need a policy that’s up to the task.
We can even extend your liability protection through umbrella policies and excess liability policies, both of which can raise your effective coverage limit as well as protect you from new types of liability. For example, an umbrella policy to protect your family against risks such as libel or slander, which are becoming increasingly common in today’s online world. Your high value homeowners insurance package can even pay your legal defense expenses in a covered lawsuit.
Secondly, many high-value home insurers work with owners of fine homes as risk consultants. Through this process, it’s possible to find hidden risks and offer guidance to mitigate these risks. The least costly claim is the claim that never happens.
Higher Limits for Personal Property
Many insurers now cover homes with a value of $1 million or more, but the type of policy you choose can make all the difference. For example, many standard home insurance policies cap coverage for personal property at 50% of the home’s insured value. In many high-value homes, this can leave a massive coverage gap.
A better approach, particularly for households with more than most, is to insure to the value at risk. With a specialized high-value home insurance policy, you can protect your home as well as your belongings — without having to settle for a partial solution. Higher coverage limits mean we can offer a way to protect your belongings, whether at home — or anywhere in the world.
Coverage for Valuables, Collections, Heirlooms, and Antiques
Owners of fine homes often also have other valuables to protect. Proper coverage requires an understanding of how coverage works but also knowing where there may be gaps in coverage. At Coastal Insurance, we work with high-net-worth families every day and can offer effective strategies to cover your collections, heirlooms, artwork, antiques, and more.
A standard homeowners insurance policy may limit the coverage for your valuables, providing only a partial solution. Many off-the-shelf policies even reduce the coverage for several types of valuables, depreciating the insured value. Instead, we can pair your customized high-value home insurance with a fine articles floater that ensures your most precious possessions are protected up to their full value.
Protect Against Liability Risks at Home and While Away
Our clients in Maryland and throughout the US tell us that personal liability is one of their biggest concerns. Most liability claims measure in the tens of thousands, but some can be much higher. Bodily injury risks top the list of concerns, particularly if you have guests at your home or even household employees.
Many standard home insurance policies cap personal liability coverage at a small fraction of your potential exposure. This leaves your savings, assets, and future earnings at risk. We can offer coverage for up to $100 million — and with careful attention to detail, you can insure against a broader range of risks.
We also offer ways to protect your household against libel and slander claims, which are a growing concern if your family uses online forums or social media. Rest easy knowing there’s a complete coverage solution available. Just reach out to our experienced agents to learn more.
Protect Your Maryland Home Against Floods and Land Movement
As part of a high-value homeowners insurance package, you may also want to protect your home against floods and land movement, including earthquakes. Through riders or paired policies, our agents can help you build a protection package that covers your home against nearly any risk, including those overlooked by off-the-shelf policies.
New changes in flood insurance rules make it easier than ever to choose your own coverage provider and bypass the artificially low coverage limits offered by National Flood Insurance Program (NFIP) policies. You can supplement your coverage or replace your policy altogether in some cases, protecting both your home and your valuable personal property.
Additional Ways to Protect Your Maryland Home or Estate
Your coverage doesn’t stop with the basics. Customize your coverage to protect your unique lifestyle.
● Vacation Homes & Secondary Residences
● Luxury & Antique Auto Collections
● Yacht & Specialty Watercraft
● Aviation Insurance
● Identity theft coverage
● Ransom and kidnap insurance
● Cyber Liability
● Umbrella & Excess liability insurance
● Coverage for domestic employees
Personalized Protection for High-Net-Worth Individuals and Families
As one of the nation’s leading independent agencies for high-net-worth households, Coastal Insurance has the experience to protect your home, your family, and your assets without making compromises.
Our independent agent status means we can freely recommend the coverage and companies that best meet your family’s needs. Protecting the legacy you’ve built is our top priority. Reach out today to learn how Coastal Insurance can protect your Maryland home.
Helpful High Value Homeowners Insurance Articles
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Hundreds of insurers compete for the U.S. home insurance market, but a select group of providers specializes in the high-value market catering to...
When we think of insurance and protection against risks specific to high-net-worth individuals, we tend to think of property insurance or liability...