Warning: Declaration of Partner_Nav_Menu_Walker::start_lvl(&$output, $depth) should be compatible with Walker::start_lvl(&$output, $depth = 0, $args = Array) in /home/customer/www/oklahomainsurancequotes.net/public_html/wp-content/themes/oiq/functions.php on line 410

Warning: Declaration of Partner_Nav_Menu_Walker::end_lvl(&$output, $depth) should be compatible with Walker::end_lvl(&$output, $depth = 0, $args = Array) in /home/customer/www/oklahomainsurancequotes.net/public_html/wp-content/themes/oiq/functions.php on line 417

Warning: Declaration of Partner_Nav_Menu_Walker::start_el(&$output, $item, $depth, $args) should be compatible with Walker::start_el(&$output, $data_object, $depth = 0, $args = Array, $current_object_id = 0) in /home/customer/www/oklahomainsurancequotes.net/public_html/wp-content/themes/oiq/functions.php on line 422

Warning: Declaration of Footer_Nav_Menu_Walker::start_lvl(&$output, $depth) should be compatible with Walker::start_lvl(&$output, $depth = 0, $args = Array) in /home/customer/www/oklahomainsurancequotes.net/public_html/wp-content/themes/oiq/functions.php on line 450

Warning: Declaration of Footer_Nav_Menu_Walker::end_lvl(&$output, $depth) should be compatible with Walker::end_lvl(&$output, $depth = 0, $args = Array) in /home/customer/www/oklahomainsurancequotes.net/public_html/wp-content/themes/oiq/functions.php on line 457

Warning: Declaration of Footer_Nav_Menu_Walker::start_el(&$output, $item, $depth, $args) should be compatible with Walker::start_el(&$output, $data_object, $depth = 0, $args = Array, $current_object_id = 0) in /home/customer/www/oklahomainsurancequotes.net/public_html/wp-content/themes/oiq/functions.php on line 462
High Value Home Insurance Quote - OklahomaInsuranceQuotes.net

Insurance Quotes Exclusively For Oklahoma

Get Your FREE Insurance Quote and Start SAVING now!

High Value Home Insurance

Insurance for high-value homes is also known as homeowners insurance for million dollar homes. This is the kind of policy that you’ll need if you have a property with a value that’s higher than average. More specifically, the worth of your home should be $750,000 or more. This applies to heritage homes and homes with special features and design elements. If you qualify for high end homeowners insurance, you’ll be receiving one of the most comprehensive types of insurance available.

selena gomez million dollar home - high value home insurance

It’s important to note that high value home insurance may be more expensive than standard home insurance because the policy could offer a more personalized experience and the coverage limits are greater than typical home insurance policies. 

FYI: This type of insurance is not limited to primary and secondary residences, it’s also available for rental homes and condos. 

The challenge for high-net-worth individuals when it comes to insuring million dollar homes is to not over-insure against minor threats or under-insure against major threats. That’s why high value homeowners insurance is so useful, because it creates a balance between needs and coverage. 

According to Bill Gatewood, director of personal lines at Burns & Wilcox, under-insuring high-value homes is quite common at 40%. This is because homeowners usually get enough insurance to cover the sale price or the mortgage of the home, which doesn’t include specialty construction or custom work, but not enough insurance to rebuild in case of a total loss. 

How Do I Know If High Value Home Insurance Is For Me?

You should consider this type of home insurance if: 

  • Your home is worth from $750,000 to $1,000,000 or more.
  • It has unique design elements or it’s a heritage home.
  • You own expensive or priceless items such as art pieces, jewelry, wine, etc., and keep them at home. 
  • You have a non-standard roof, meaning it has an elaborate design, it’s green, or made of materials such as copper, metal, tile, etc.
  • Your home has a green design, construction or heating. 
  • You have expensive or priceless fixtures, decorations or appliances that can’t be found in standard stores. 
  • Your home has unique, luxurious features, such as special landscaping, a swimming pool, a guest house, etc. 

What’s the Coverage of High Net Worth Home Insurance?

high value home insurance for your million dollar home

Essentially, a high value home is unique and luxurious, which means that high value home insurance offers an expanded coverage limit, compared to standard homeowners insurance. If you qualify for this kind of insurance, your home will be inspected so that its value is verified and a guaranteed replacement value is provided. 

During this inspection, the insurance company will help you document everything you own and they will make suggestions about how you should protect your most valuable possessions. 

Compared to standard home insurance, high value home insurance offers larger policy limits for reconstruction costs, structure repair or replacement coverage, personal collections (jewelry, antiques, fine arts, etc), living expenses during restoration, cyber protection, reconstruction costs, and much more. 

The bottom line is that homeowners insurance for million dollar homes may be more expensive than standard policies per square foot, but when you have a property with a value that’s much higher than average, the policy pays for itself. Fill out the form on top of the page or visit our home insurance page to request a quote now!