High Value Home Insurance from Massachusetts Specialists

Proudly Providing High Value Home Insurance to Residents in Massachusetts & Many Other States Across the Nation

What is High Value Home Insurance?

Standard homeowners insurance policies meet most Massachusetts homeowners’ insurance needs for their houses. Residents who own especially expensive homes, however, may need more coverage than standard homeowners policies can provide. For these residents, there’s high value home insurance.

High value home insurance policies are a specialized form of homeowners insurance that’s uniquely designed for homeowners who have expensive homes. These policies generally build on the coverages included in standard homeowners policies, going above and beyond the protections afforded by standard policies.

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A piano by the living room fireplace in a high-value home

What Coverages Do High Value Homeowners Insurance Policies Offer?

Most high value homeowners insurance policies include a number of coverages that work together to provide robust protection. Some of these coverages are found in standard homeowners policies. Other coverages either aren’t included in standard policies or are only included in them as optional protections.

Some of the coverages that are frequently found in both high value and standard homeowners policies include:

  • Dwelling Coverage, which generally covers the insured house itself
  • Other Structures Coverage, which may cover secondary structures (e.g. sheds, gazebos, fences and detached garages) that are on a property
  • Personal Property Coverage, which may cover the policyholder’s and their family’s personal belongings
  • Personal Liability Coverage, which may cover certain liability lawsuits that the policyholder and their family could face

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Some coverages that are often included in high value homeowners policies but aren’t as frequently found in standard homeowners policies include:

  • Living Expenses Coverage, which may cover the cost of alternate lodging if the policyholder's home is destroyed or heavily damaged
  • Sewer Backup Coverage, which may cover water damage caused by plumbing issues
  • Coverage for Rebuilding to Code, which may cover the cost of rebuilding a destroyed home so that it meets all current codes
  • Coverage for Refrigerated Food, which may cover perishable food that spoils during an incident
  • Coverage for Vacation Homes, which may extend coverages to a second (or third) residence
  • Kidnap and Ransom Coverage, which may cover kidnapping or ransom demands if a policyholder's family member is abducted

Do High Value Homeowners Policies Cover Flooding?

Unlike many standard homeowners policies, many high value homeowners policies provide cover for flooding. Because coverages vary and flooding is a serious potential risk, homeowners should review their policies carefully to see if their high value policy provides flood coverage.

A rustic stone-front high-value home with two garages

What Homes Qualify for High Value Homeowners Insurance?

In general, only homes of a certain value qualify for high value homeowners insurance. The value that they must meet varies from insurer to insurer, and some Massachusetts insurers have much higher value requirements than others. In some cases, a home must be worth at least $1 million or $750,000 to qualify for a high value policy. In other cases, a home only has to be worth $300,000.

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How Do Massachusetts Insurers Value Homes for High Value Homeowners Policies?

Insurers use a variety of methods for valuing homes. Some insurers will go so far as to send an adjustor who will appraise the house in-person. This is one of the best ways to determine a home’s value, even though it’s not the only possible method.

How Can Homeowners in Massachusetts Get High Value Home Insurance?

For help finding high value home insurance, homeowners in Massachusetts should contact an independent insurance agent. An agent will be able to request quotes for high value policies and help compare the coverages they offer.

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