Home Insurance for High-value Homes: Special Coverage Considerations

High-value home insurance can be essential for safeguarding your investment in South Carolina. Unlike standard homeowners insurance, it can offer additional coverage to help protect against costly repairs or replacements. Whether your home features custom details, a pool or other enhancements, this specialized coverage can help ensure peace of mind.

What Is High-value Home Insurance and Who Needs It? 

High-value homeowners insurance typically applies to properties that surpass the value of a standard home. These residences often fall into the luxury or high-net-worth category, typically valued at $750,000 or more. Some policies may exclusively cover homes worth $1 million and above. High-value home insurance can offer enhanced property coverage limits and superior financial protection for valuable assets like antiques, art and jewelry, setting it apart from standard homeowner insurance.

What Are High-value Home Insurance Exclusions?

High-value home insurance typically offers broader coverage, but the following are some exclusions to be aware of:

• Terrorism or war—Loss or damage resulting from acts of terrorism or war is generally excluded.

• Gradual deterioration—High-value home insurance policies may not cover damage due to gradual wear and tear, rust or other forms of deterioration.

• Flooding—Floods, whether from overflowing rivers or heavy rain, are not covered by most standard home insurance policies. Separate flood insurance is necessary for this risk.

What Is the Cost Difference Between Standard and High-value Home Insurance?

High-value home insurance is typically more expensive than standard home insurance. The exact cost depends on factors such as your home’s location, policy type, chosen insurance provider and personal claims history.

Insurance for High-value Homes in Rock Hill, SC

Contact Insure Insurance for a high-value home insurance policy. We specialize in policies for high-value homes and can guide you through the process.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.