High Value Home Insurance in Vermont

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. 

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What Additional Coverages Can High Value Homeowners Insurance Offer?

Like most standard policies, high value homeowners insurance policies generally provide coverage for a primary dwelling, personal possessions and secondary structures, as well as liability coverage.

In addition to these coverages, a high value policy might also offer:

  • Living Expenses Coverage, which may cover the cost of alternative housing if a home is uninhabitable after a covered incident

  • Coverage to Rebuild to Code, which could help pay to rebuild a destroyed home so it meets all current codes

  • Sewer and Drain Backup Coverage, which might pay for damage caused by plumbing backups

  • Coverage for Refrigerated Food, which can be used to insure food that may spoil against covered incidents

  • Coverage for Removing Fallen Trees, which can cost a decent amount after a storm

  • Coverage to Recharge Fire Extinguishers, which helps cover the cost of replacing used fire extinguishers


Why Do I Need High Value Homeowners Insurance Instead of a Typical Home Policy?

Even more coverages that a high value homeowners policy may provide are identity theft coverage, coverage for pets veterinary bills, vacation home coverage, and, even coverage for kidnappings. While few homeowners are at a high risk of being kidnapped, there are protections available for many different situations that a homeowner who is wealthy enough to own a high-value home might face.

Some of these protections are available through standard homeowners policies as optional coverages. Selecting them, however, typically increases a standard policy's rates. High value policies are more likely to include these protections automatically, so getting them doesn't increase a homeowner's premiums.

(As is the case with other insurance policies, the exact coverages that a particular high value home policy offers vary).

Is High Value Homeowners Insurance Expensive?

High value homeowners policies often have slightly higher premiums than standard homeowners policies. For homeowners whose residences are expensive, though, the additional coverages and protections that high value policies offer are frequently well worth the additional cost.

How Can Homeowners Request Quotes for High Value Home Insurance?

Independent insurance agents make getting quotes for high value home insurance policies easy. In just a few short steps, agents can simultaneously request quotes from multiple insurers that serve Vermont. Once they have the quotes, agents also have the expertise necessary to help homeowners compare the different policies and select the one that provides the coverages they want. 

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