Luxury Homes Insurance Claims

Every city has its share of luxury homes that can be found in posh localities, they’re expensive and boast a premier quality of construction. Homes are often the single most significant investment that individuals and families make, which is true for the owners of luxury homes as well. An expensive home requires a high premium paying policy as a higher coverage will ensure that it can be completely rebuilt, in case of a loss. Basic coverage provided by a standard homeowner’s policy does not cover personal liability protection. Even other coverages that expand if repairs exceed the insured value, as well as risk management consulting, is not included. An all-inclusive coverage for your possessions, like rare collectibles, antiques, valuable decor, jewelry collections, and fine art is essential.

A customized luxury homeowner’s insurance policy, aims at covering the financial risks associated with high-value homes, like restoring it to its original distinctive condition, even if the cost exceeds your policy limit. Further, you can choose to settle your claim in cash, and damaged personal effects are covered for the amount it costs to replace them today up to the limit you chose on your policy. If you need a temporary residence while your house is being rebuilt, they help you find a place to stay or a suitable hotel. Some insurance companies like AIG Private Client, Chubb Prestige, Pure High-Value, Cincinnati Insurance, and NatGen Premier offer many extras not commonly found with other insurers. A personalized high-net-worth insurance package protects you both at home and even while you travel. Choosing a customized insurance package may get you added coverage for legal costs, a road mishap, , accidents to your guests, and their medical expenses, etc, included in it.

We get involved in discussions about insurance only if there is a mishap, so filing a home insurance claim becomes a challenging experience. Some points to note when filing a claim:

  • We recommend that you make a complete list of your household items so that you don’t undervalue them. Maintaining digital as well as actual receipts, photographs, and purchase prices of all items, could be useful.
  • Avoid undue stress and common mistakes by having a clear understanding of the claims process
  • Once the claim is noted, the insurance company may refer you to professionals to make temporary repairs, if needed.
  •  After the claim has been filed, an insurance adjuster will complete an inspection to assess the damage and ascertain the amount of your claim. 
  • Contact a public adjuster because having best-in-class insurance coverage for your precious assets requires the best settlement consistent with it.

When faced with a catastrophe, the last thing you need is more anxiety about paperwork, documents, and negotiations with insurance adjusters – leave all this to a public adjuster. A public adjuster is a licensed professional from the State Department of Insurance and is trained in formulating, presenting, and negotiating the insurance claims of luxury homes like yours. Your public adjuster will work for you to get you what is legitimately due to you. As your public adjuster takes over the time-consuming claims filing process, you can take care of yourself and your family.

We review your insurance coverage and inspect your site. We analyze damages, determine the cost of replacement, the actual cash value, and put together all the necessary documents to support your claim. 

Experienced Public Adjusters are experts at property damage claims and their ‘raison d’etre’ is to help you recover the maximum amount so that your home and personal possessions are restored to their pre-loss condition. 

For help with filing an insurance claim for your luxury home, reach out to Experienced Public Adjusters.