Insuring High Net Worth Homes
Inarguably, your house is one of the biggest investments that you make in your life; one that is an embodiment of who you are. If you’ve done well for yourself, it is very likely that your house will be an epitome of your success and achievements. That is; you probably own a high value home that is furnished with the best that the state has to offer. As a local insurance company, we deal in high net worth home insurance in CT and are well aware of all the problems which may lie in the way of securing your house and your property.
You see, if you do own a high valued house; that is furnished to the finest of tastes, a regular home insurance policy won’t be good enough to cover all your valuables. You’ll have to look into other options in addition to regular home insurance – options such as a “High-Value Home Insurance”.
What does a High net worth home insurance cover?
In the state of Connecticut, the most common reason for opting into high-end home insurance is expanded coverage limits compared to standard homeowners’ insurance policies, though coverage can include additional benefits and services. Categorized broadly, these include; structural repair or replacement, your possessions, cases involving additional living expenses, etc.
Who needs high net worth insurance coverage?
If you like to indulge in the finer things in life, this insurance is for you. more specifically, you need it if:
- Your home is worth $750,000 or more – typically. This amount isn’t fixed. Get in touch with one of our insurance agents for clarification.
- Your home is a heritage home or has older construction features not found in common construction methods or practices. This is because the usual homeowners’ insurance won’t cover the more dated features and practices of house-building.
- Your home has unique architectural features; not usually scene in the local constructions or uses construction materials that are hard to replace due to the uniqueness of the spare parts.
- You own expensive or priceless fine arts, rugs, collections, jewelry, wine, or other special items that are kept at home; that is; you have an expensive taste.
- You chose highly-priced appliances, fixtures, or decorations to put in your home that are not found at standard stores. This usually includes imported and highly sought after items.
- The interior and exterior design features on your property are hard to come by, such as luxurious outdoor living areas, guest houses, swimming pool areas, special landscaping, or bespoke features that were selected by an interior designer.
In conclusion, this type of home insurance provides higher limits on coverage provided by standard policies, plus additional coverage for the unique needs of homeowners with high-end homes.
Get the most out of your high net worth home insurance
As we lightly touched on earlier; we, the highly skilled team of professionals at Paradiso Insurance excel in providing the best homeowner insurance policies suited to your unique needs. However, we make sure that you and your house is secured adequately with the appropriate means. In the process, we offer our clients the best deals which include multiple quotes, a high deductible, and a variety of discounts.