What is High Value Home Insurance?
For most Vermont homeowners, standard home insurance policies provide plenty of protection. Residents whose homes are particularly valuable, however, may need more coverage than standard policies afford. Residents who own expensive homes in Vermont often find the additional protections they want through high value home insurance policies.
High value home insurance policies generally go beyond standard insurance policies, making available the extra protections that residents who own expensive homes need. Compared to standard homeowners insurance policies, high value policies tend to have more coverages and higher limits.
What Homeowners in Vermont Should Consider High Value Homeowners Insurance?
While high value homeowners insurance policies are generally designed to meet the needs of homeowners whose houses are expensive, there’s not an industry-wide definition that determines what a high-value home is. Some insurers offer high value policies for homes that are worth a few hundred thousand dollars (e.g. $300,000), while others only provide high value policies that are valued at $750,000, $1 million, or more.
Because insurers have different criteria for high-value homes, any homeowner in Vermont who wants the extra protections that high value policies offer should request quotes from several insurers in the state. There’s a good chance at least one insurer will offer a high value policy for their home, and there may be several who have high value policies available.