You’ve worked hard to acquire your dream home! You’re a part of an elite group of high-level executives of Fortune 500 companies, celebrities, royalty, movie stars, tv stars, professional athletes, politicians, well-known wealthy families, world leaders, diplomats, millionaires, and billionaires!
Your million-dollar home reflects your achievements and tastes, and is a good investment too! Protecting what you’ve earned is paramount. So, in the face of uncertainties, you require an insurer with the expertise, flexibility, and financial strength to fully meet your individual property insurance needs.
But wait a moment, will any insurer do? What if you knew that there were high-net-worth insurance companies who provided customized policies based on your specific requirements? Home protection doesn’t just equal coverage limits; it also includes your artwork collection, curios, valuables, and much more, that make your home unique.
We know that the stakes are really high for you and believe that you need to identify insurance companies that specialize in protecting high-net-worth individuals and affluent households.
Why listen to our recommendations? We have a reputation to think of, and we are known for our reliability and consistency! We are licensed from the Department of Financial Services to represent the publics’ best interest and bring the insureds back to pre-loss condition. Since Experienced Public Adjusters are in the business of advising, managing, and submitting a claim to a policyholder’s insurance company, we understand your needs, we are discreet and protect your privacy. Deciphering the policy language and figuring out the guidelines applicable to your claims can be exhausting and time-consuming. We are in business to help you do just that!
Our research suggests that certain insurance companies have customized insurance policies for million-dollar homes. We list the best five here, not in any order of merit:
- AIG Private Client insurance
AIG’s Private Client high-value home insurance policy addresses your complex insurance needs in a comprehensive manner. It includes policy provisions like full replacement cost coverage without deductions for depreciation, settlement of the claim in cash, providing for additional living expenses, and extended rebuild coverage above your policy’s limit.
- Chubb Prestige
Chubb is known for its exceptional claims service. It offers you the Masterpiece policy which includes extended replacement cost coverage, even exceeding the cost of your policy limit, provides a temporary residence while your house is rebuilt, gives you the option of a cash settlement, and replacement cost coverage, without deduction for depreciation, up to the limit you chose on your policy. Additionally, it has a unique offering called HomeScan, which identifies problems such as leaks, missing insulation, and even faulty electrical connections that are not always visible. This can prevent a problem from becoming worse and damaging your home.
- Pure High-Value Homeowners Insurance
Pure offers you the option to repair, rebuild, or receive a cash settlement after a covered loss, extended jewelry protection coverage up to $50,000 for jewelry that is lost, misplaced or stolen, drain backup coverage, and guaranteed replacement cost coverage. Additionally, a single dedicated adjuster – PURE Member Advocate® will be available during and after the claim to help you locate temporary housing, connect with local contractors and vendors, replace lost items, and more.
- Cincinnati Insurance
With an A+ Superior rating with A.M. Best, Cincinnati Insurance belongs to an elite group with strong financials. Its premium Executive Capstone Policy addresses the complex needs of clients with homes starting at $1,000,000. Other offerings include a flood insurance solution that provides coverage up to the coverage limit of your home; it combines deductibles if the damage results from the same loss occurrence and even provide service lines coverage for utility lines, water supply lines, gas lines, and communications lines. Also, it helps cover the cost of additional living expenses if you need to relocate in the time your home is undergoing construction repairs.
- National General Premier
If your home’s value is up to 10 million dollars in value, The Premier Client Homeowners program from NatGen Premier provides coverage for you. Valuables and household belongings are also covered. It offers guaranteed replacement cost exceeding your policy’s coverage limits, contents replacement cost, without adjusting for depreciation, ordinance and law coverage associated with the cost of rebuilding your home. Optionally, it also provides coverage for service lines to your home.
These five insurance companies have proven their mettle when it comes to addressing and covering the unique financial risks associated with high-value homes.