checkbock asking if person is insured, determine your need for high value home insurance

Who Needs High Value Home Insurance Coverage?

How to determine your need for high value home insurance.

If you own an expensive home or have many valuables in your possession, then standard homeowners insurance may not be offering you the coverage that you need.  In this case, securing a high value home insurance policy might be the right decision for you.  But how can you tell if you really need this coverage?  Here’s how you can determine your need for high value home insurance.

  • Do I Need High Value Home Insurance?

If your home is worth more than $750,000, then standard homeowners insurance will not offer you enough coverage to protect the full value of your property.  In this case, high value home insurance is a must.  Additionally, you may need to secure this coverage if your home has special features such as unique architectural elements, custom interior design pieces, and expensive property additions (such as a pool, spa, tennis court, etc.).  Finally, if you own many luxury or high value items, such as art, jewelry, collectibles, designer clothing, and so on, then you should also consider securing this type of coverage.

  • What Happens If I Am Underinsured?

Many high value homeowners rely on the insufficient coverage offered by standard home insurance policies.  In fact, approximately 40% of homeowners only secure enough coverage to cover their mortgage or the sale price of their home.  However, your coverage should depend on the cost of completely rebuilding your home, including the cost of building materials, labor, and recreating special property features.  Failing to secure this coverage could leave you without a home in a total loss situation.  So, if you want to avoid wasting all the time, effort, and money that you have invested in your home, then it’s time to speak to your insurer about high value home coverage.

This is how you can determine your need for high value home insurance.  Interested in speaking to an expert in high value home protection?  If so, then contact the team at Tri-Star Insurance/HUB International in Plano, Texas.  We are ready to assist you with all your home coverage needs today.