High Value Home Insurance
Protection for your investment.
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(603) 431-4020
Email
insure@portsmouthatlanticins.com
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Portsmouth, NH
Stratford, CT
High Value Home Insurance in New Hampshire
What is high value home insurance?
Homeowners with common coverage needs generally find that standard homeowners insurance policies meet their insurance needs. Standard policies might not provide enough protection for a more expensive home, though. For homeowners who have more expensive residences in New Hampshire, there’s high value home insurance.
High value home insurance policies are specialized policies designed to meet the unique coverage needs of more expensive homes. These build upon what’s offered by standard homeowners policies.
What New Hampshire homeowners should look at high net worth insurance?
Most New Hampshire homeowners with homes worth at least $750,000-$1 million should have high net worth insurance. Homeowners with residences worth $300,000-$75,000 might also consider a policy. The exact minimum property value that’s required varies by insurer and specific policy.
Residents who don’t have an especially valuable home might still want high net worth insurance for their belongings and themselves. Any accredited investor (earning minimum $200,000 annually/have $1 million in assets other than a primary residence) may want to as a knowledgeable insurance agent about this insurance. An agent who specializes in these policies can help individuals determine whether a high net worth policy makes sense for them.
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Coverages to Consider
- Dwelling Coverage
- Other Structures Coverage
- Personal Property Coverage
- Refrigerated Food Coverage
- Sewer Backup Coverage
- Coverage for Rebuilding to Code
- Vacation Home Coverage
- Personal Liability Coverage
- Kidnap and Ransom Coverage
- Cyber Coverage
What coverages are included in high net worth insurance policies?
Many high net worth insurance policies are set up as homeowners policies with extra protections, but not all policies must insure a home. The coverages included in these policies can thus be reviewed as homeowners insurance protections and other protections.
Some of the more common property-specific insurance protections that high net worth policies might offer are:
- Dwelling Coverage: Might cover the primary residence on an insured property against various causes of damage or destruction
- Other Structures Coverage: Might cover other structures on the property, such as guest houses, gazebos, boathouses, sheds, etc.
- Personal Property Coverage: Might cover belongings such as electronics, furniture, clothes, antiques, collectibles, firearms, etc.
- Refrigerated Food Coverage: Might cover perishable food which spoils after a covered incident
- Sewer Backup Coverage: Might cover damage caused by plumbing issues, such as leaking faucets, burst pipes, etc.
- Coverage for Rebuilding to Code: Might cover additional rebuilding costs incurred when rebuilding a destroyed house to current codes
- Vacation Home Coverage: Might cover a second, third or fourth home in New Hampshire or elsewhere
Some coverages that are mainly for the policyholder/their family include:
- Personal Liability Coverage: Might cover common lawsuits over policyholder-caused injuries or property damage
- Kidnap and Ransom Coverage: Might cover expenses arising from domestic or international kidnappings/ransom demands
- Cyber Coverage: Might cover online threats, such as hacks, phishing scams, ransomware attempts, etc.
Some of these coverages simply aren’t found in most standard homeowners policies. Those that are typically come with higher limits and more extensive coverage terms when they’re in a high value home policy.
How are properties valued when purchasing a high value home policy?
Many insurance companies want to value a property before finalizing a high value home policy. Valuations typically take into account comparable sales, past sales of the property, recent local market trends, tax assessments and other datapoints. In certain situations, the insurer will send an adjuster to the property for an in-person evaluation.
How can residents get high value home insurance?
If you need insurance for a more expensive home that’s located in New Hampshire, contact the independent insurance agents at Portsmouth Atlantic Insurance. Our agents will work closely with you to assess coverage needs, and then help you find a high value home insurance policy that provides those coverages. We can assist you regardless of whether you’re insuring a home or only yourself.
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