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Knowing your home’s worth: High Value Home Insurance 101

Home prices are rising rapidly in North Texas. While homeowner’s insurance is a must, there’s another type of insurance that might be a must for you as well: High Value Home Insurance. High value home insurance is typically available for homes with a value in excess of $750,000. For homes with this kind of value, sometimes a standard homeowner’s policy is not the ideal fit. It’s important to work with an agency that understands and specializes in this type of coverage. In addition to a standard homeowner’s policy, high value insurance can offer clients additional coverage including:

  • Property Insurance– guaranteed dwelling replacement cost coverage, unlimited building code coverage, and sometimes “all risk” coverage
  • Contents- All risk replacement cost coverage
  • Valuable Articles- For priceless collectibles including art, computers, jewelry, furs, silverware, guns, and more
  • Loss of Use- Unlimited loss of use coverage
  • Personal Liability- libel and slander coverage, credit card coverage, $10,000 in medical payments
  • Identity Theft Coverage- Sometimes a high value insurance can include coverage for identity theft
  • Umbrella Coverage- Higher limits can be made available under high value insurance
  • Medical Coverage for Pets- Yes, you read that right!

In order to obtain high value coverage on your home, insurers usually send an expert appraiser to your home to view, assess and document your contents such as collectibles, antiques, jewelry, artwork, and custom materials. If all items check out, one can begin the process of acquiring high value home insurance policy.

Here at Ramey King, we’d love to help answer any questions you might have surrounding this special type of coverage. Please contact us today with any questions or thoughts!