Nearly 40% of High Value Homes are Underinsured
High value homes (homes valued over $1 million) deserve a specialized protection plan and a specialized insurance agent to help you with your unique needs.
If you are using a standard carrier (State Farm, Nationwide, Allstate, etc.) for your high value home, you could be underinsured or you may not know you can purchase special coverage for your specific needs. Use a carrier and agent who specializes in high value homes. Some high value carriers include Chubb, AIG, Pure, Cincinnati, Encompass, etc. to insure your unique home.
Get a current cost estimator on what it costs to rebuild your home so you know what you will need in insurance to rebuild your home.
Do a personal inventory of your household items. Many categories such as jewelry, guns, fine arts, fire arms and silverware are limited in coverage so the homeowner should get appraisals and find out how much to insure these items.
High value homes qualify for home discounts because sometimes they have generators or build to certain green standards or have higher end security systems.
Special coverages to discuss:
Guaranteed Replacement Cost - pays whatever you need regardless of policy limits so if you need more coverage you Cyber Security
Home Protection Coverage - coverage for losses caused by mechanical and electrical systems breakdowns for your heating and air conditioning, home security, swimming pool, home theaters, elevators and more.
Coverage for Volunteering or Not for Profit Directors and Officers coverage - board members can be held liable for the actions or inaction of the organizations they serve, including accusations such as wrongful termination and breach of fiduciary duties. This coverage protects you as you act in your capacity as an officer or volunteer.
Domestic Employment Practice Liability Coverage - coverage for domestic staff such as drivers, housekeepers or childcare providers to protect you against claims of wrongful employment allegations and some policies cover the cost of crisis management services to help preserve your reputation.
Excess Flood Coverage - coverage to increase your standard flood insurance policy offered by the government. The standard flood insurance policy offered by National Flood Insurance Program insures up to 250,000 for dwelling so we always recommend an excess flood insurance policy to add more coverage.
We have many carriers who specialize in households with high value homes.
Suzanne Brown Insurance Agency
A Texas Independent Insurance Agency with over 100 insurance carriers