Homeowners Insurance

High-Value Home Insurance

You have worked hard to get the things you own. We understand and can help tailor your personal insurance program to meet your unique needs.

We represent the finest premier insurance carriers that cater to affluent individuals. These carriers offer the most comprehensive coverage available. Some of these coverages are:

  • Guaranteed Replacement Cost : No need to worry whether you have enough insurance to rebuild in case of a total loss. Premier carriers guarantee to rebuild your home, with like kind and quality, even if the actual cost to rebuild is more than your policy limit. Most standard carriers limit the amount they will pay in case of a total loss to 125% of your policy limit.

  • Cash Settlement Option : In the case of a total loss to your dwelling, should you choose not to rebuild, premier carriers offer a cash settlement up to amount of your policy limit. Most standard carriers do not offer this option.

  • Sewer and Drain Backup : If your sewer backs up and causes damage to the dwelling or personal property, premier carriers provide coverage up to your policy dwelling or contents limits, including the basement. Most standard carriers limit this coverage, usually to $5,000 or $10,000 and some are very limited for items in a basement.

  • Additional Living Expenses : Premier carriers provide coverage for your additional living expenses when your residence becomes uninhabitable because of a covered loss. There is no dollar limit or time limit. Most standard carriers limit this coverage.

  • No Requirement to Replace Personal Property : If you suffer a loss to your personal property, premier carriers do not require that you replace the property in order to be paid on a replacement cost basis. Most standard carriers will only pay you the actual cash value, which is the depreciated amount. Once you have replaced the items, they will then pay the difference. This coverage can save a substantial amount of time and legwork during a loss.

  • Building Ordinance : Many towns have specific ordinances regarding damaged structures, which can add thousands of dollars during the rebuilding phase after a loss has occurred. Premier carriers provide coverage up to the policy limits for these increased expenses. Most standard carriers limit this coverage, usually to 10% of the dwelling value.

  • Unscheduled Jewelry and Furs : Premier carriers include a specific amount of coverage for lost, misplaced or stolen jewelry items without having to specifically list these items. The amount provided varies by carrier and ranges from $5,000 to $50,000. Most standard carriers provide a very small amount of coverage and most limit coverage to theft only.

  • Earthquake for Personal Property : Premier carriers include coverage for earthquake damage to personal property, usually subject to a deductible. Most standard carriers do not provide this coverage. You must purchase earthquake coverage separately.

  • Equipment Breakdown Coverage : Premier carriers offer comprehensive coverage for household appliances that break down due to mechanical or electrical failure. Standard carriers do not offer this coverage.

    Should the need to file a claim ever arise, you can feel comfortable knowing that we have an in-house claims manager to help guide you through the process.

Homeowners Insurance – General Information

Whether you own a dwelling, condominium unit, or coop unit, a homeowners policy will help to protect you from financial disaster in case of a loss. Since no homeowner is alike, each policy must be customized to meet the exclusive needs of the homeowner. Below are the different components that make up a homeowners policy.

  • Property Coverage : Property insurance helps to protect the structure of the home, any other structures, and personal property in case of loss. Homeowners insurance policies also include loss of use coverage, which will help with additional living expenses in the event your home becomes uninhabitable.

    The types of disasters (perils) that are included in your policy can vary depending on the type of coverage you purchase. For example, the standard homeowners insurance policy excludes damages caused by either an earthquake or a flood, however, these are usually available to add to your homeowners policy. Therefore, you must review your policy exclusions carefully so that you can always be prepared.

  • Dwelling Replacement Cost Coverage : This optional coverage provides you with coverage above the limit specified on your policy for your dwelling to rebuild your home in case of a total loss. Many of our carriers offer limits higher than the standard of 120%.

  • Replacement Cost on Contents : Many times, a standard homeowners insurance policy only includes actual cash value settlement for your contents. We highly recommend including replacement cost settlement on contents, which eliminates the depreciation factor when settling a personal property loss.

  • Liability Coverage & Medical Payments Coverage : Due to the litigious nature of our society, liability coverage is another important part of a homeowners policy. Liability will help to provide you and your family members with protection against lawsuits that may arise as a result of bodily injury or property damage, not only that take place on your property, but also off premises incidents that you may be personally liable for. This coverage can pay for the damages and related medical expenses until your policy limits become exhausted, as well as provide a defense.

    Medical Payments coverage is available for anyone other than you and your family members on a “no-fault” basis. Since this coverage allows for medical expenses to be paid without having to file a liability claim, the limits are much lower than your policy’s liability limits, typically about $5,000. You may need excess liability protection for lawsuit defense coverage.

Flood Insurance

Since damage by flood is excluded by nearly all homeowners insurance policies, it is very important to review your needs for this coverage. Even if your home is not located in a high-risk flood zone, the low to moderate risk zones account for over 20% of National Flood Insurance claims and receive one-third of disaster assistance for flooding. Flood insurance isn’t federally required in moderate-to-low areas, but it is recommended for all property owners and renters. Most of the time, there is a 30-day activation period after you purchase a flood insurance policy, so it is important to determine your need for this coverage sooner rather than later.

Other Optional Coverages that may be available to you

  • Special Personal Property Coverage

  • Scheduled Valuable Items

  • Personal Injury Coverage

  • Identity Theft Protection

  • Water Backup Protection

  • Earthquake Coverage

  • Business Personal Property

  • Additional Residence Liability

  • Watercraft Liability

  • Cyber Coverage

Potential Discounts that may be available to you

  • Multi-Policy Credit

  • New Home Discount

  • Protective Device Credit

  • Mature Homeowner Credit