what does high-value home insurance cover?

What is High-Value Home Insurance?

Learn what separates high-value home insurance from standard home insurance policies.

If you own a home, it’s no secret that you need to have the right homeowners insurance in Plano, Texas. However, if your home exceeds a certain value, relying on a standard home insurance policy could leave you without the comprehensive coverage you need. This is where high-value home insurance comes in. This type of policy is specifically designed to cover homes that are worth more than $750,000. While high-value home insurance offers coverages that are similar to a standard policy, they also offer some additional benefits to policyholders. Here are some of the extra coverages included in high-value home insurance policies.

Extended Property Coverage

Standard policies offer coverage for personal property such as furniture, clothing, and other items kept within the home. However, this coverage is limited and if you want coverage for high-value items, you will have to secure additional policies for each item. With high-value homeowners insurance, valuable belongings such as jewelry, fine art, antiques, electronics, and so on are covered under your main policy, eliminating your need to secure supplemental personal property coverage.

Additional Structures Coverage

Standard homeowners insurance policies obviously offer coverage that protects the structure of your home. However, high-value homeowners insurance extends this coverage even further. High-value home policies also offer coverage to the additional structures on your property. For instance, things like guest homes, pool houses, tennis courts, and so on would all have coverage under your main policy.

Unlimited Loss of Use Coverage

Loss of use coverage refers to coverage that pays for your living expenses in the event that your home is temporarily uninhabitable and you are forced to live elsewhere. While standard home policies offer this coverage, it is limited in scope. When you have high-value home insurance, you have virtually unlimited loss of use funds.

These are some of the major differences between standard home insurance and high-value home insurance. Do you have additional questions regarding your homeowners insurance in Plano, Texas? Direct them to the experts at Tri-Star Insurance/HUB International. We are ready to assist you today.