High-Value Home Insurance, as its name suggests, offers comprehensive coverage for a home that costs significantly more than average homes. Including personal property, fixtures and fittings, bank cards, the contents of the house, and other liabilities, high-value home insurance covers both the structure and the home’s contents.
Home is a powerful word—stronger even than magic, according to Charles Dickens—and he was right. Most of us consider home a place where our loved ones can be safe and our thoughts and aspirations can be. It is the most expensive item that most of us have ever purchased and the most valuable possession overall. A property’s value is increased even further because it is typically an asset that increases in value.
A home insurance calculator is an easy-to-use tool to determine the amount of premium you would need to pay.
High-Value Home Insurance Overview
A standard home insurance policy might not be adequate if you have a luxurious home that is more expensive than typical properties. Homes classified as high-value homes have a predetermined high value based on rebuild costs, the cost of the contents, and the cost of antiques, art, and jewellery.
Think about a home with six or more bedrooms, an acre-long villa, or a house decorated with priceless antiques. Standard home insurance will not be enough to cover the costs if a natural disaster strikes such property or if a burglary or theft occurs. As a result, insurance companies developed the idea of High-Value Home Insurance, which provides individualised solutions and extensive home insurance coverage for your home’s structure and contents.
High-Value Home Insurance Coverage
Standard home insurance typically does not offer comprehensive coverage of high-value home insurance. Here are a few of the range features that high-value home insurance offers: *
- Comprehensive coverage is provided for all covered properties.
- Complete replacement coverage
- Backup in the sewers and drains
- Building replacement cost insurance
- Coverage for other structures’ replacement costs, such as fences
- Costs related to property damage, glass damage, and vandalism
- Insurance covering personal property replacement costs
- Theft or break-in of valuables and property at the insured location while the homeowner is away
- Silverware, jewellery, artwork, antiques, pricey electronic devices, and computers are all covered under valuable articles.
- Coverage for credit cards under personal liability
High-Value Home Insurance: Features and Advantages
Here are a few advantages and features that High-Value Home Insurance policies provide.
In contrast to standard home insurance, high-value home insurance provides additional coverage for your priceless possessions and the home’s structure.
Most insurers now provide identity theft protection in addition to High-Value Home Insurance. A home emergency cover is also available to policyholders, offering quick assistance in an unanticipated household emergency. Exclusive access to specialised services, such as surveyors, attorneys, safe installers, and furniture restorers, will be provided to policyholders. Insurance companies offer advantages like a 24-hour claims hotline, quick customer service, and immediate access to insurance experts.*
* Standard T&C apply.
##All savings are provided by the insurer as per the IRDAI approved insurance plan. Standard T&C apply
Insurance is the subject matter of solicitation. For more details on benefits, exclusions, limitations, terms, and conditions, please read the sales brochure/policy wording carefully before concluding a sale.