A home insurance policy is a worthy investment from the possible risks and damage that your property is prone to. It provides coverage to the house itself, the contents therein and also personal incidents. This is made possible through the provision of structure coverage which comes alongside sewer and drainage endorsements, a personal property cover for your belongings and a liability cover for damage or injury caused to other parties. Usually this kind policy is sufficient enough for a regular home owner with lesser risks at hand.
The downside however comes with its policy limit which draws the line for customers owning luxury homes. These companies tend to offer a maximum refund of 1 million dollars for the house and a limit of 1000 dollars on jewellery. High end properties with a high net worth may not receive the desired compensation from a standard home insurance in case of damage or loss. But with a high value home policy they can. With the appropriate quote, this policy provides a better option to secure your valuables as they should.
Here are some of the benefits a high value home policy has to offer:
i. Natural Disaster endorsements
Residents living in areas constantly exposed to floods or wild fires face the risk of having their homes completely destroyed. Among the advantages of high worth policies is a “guaranteed replacement cost” that pays for all expenses that come with rebuilding your house, even when costs exceed your policy limit.
ii. Loss prevention measures
High end insurance companies provide services that not only assess risks but also minimize them. This works through the help of consultants who inspect your property and advice on what elements to include in your policy cover; or annual expert visits from an engineer. A leak detector is a common recommendation to prevent water flooding and reoccurrence of the same.
iii. Additional luxury benefits
These cover for living expenses, vacation homes, food, travel among others. An additional living expense cover helps to secure an alternative accommodation means for you and your family during an emergency call. You are assured of detailed customer care from your insurance provider who takes care of the bookings and transportation to the hotel.
For people who like to travel for vacations, a high end policy has got you covered. It not only insures your get away home but also special equipments you travel with from classy jewels, expensive watches to fine art work.
Food compensation is also available through the refrigerated food cover that pays for edibles damaged in a covered incident.
iv. Hands on Security
In the event of kidnappings, identity theft or cyber fraud, a ransom coverage pays for your protection and that of your family.
Although a high value home policy quote comes with higher rates and premiums, it offers the best unlimited cover for your home.