Who Are the Best Insurance Companies for Million-Dollar Homes?

You’ve worked hard to acquire your dream home! You’re a part of a privileged group of people like movie stars, celebrities, professional athletes, royalty, politicians, diplomats, millionaires, and billionaires! And your million-dollar home reflects your achievements and tastes. Plus, it’s a good investment too! 

Protecting what you’ve earned is paramount. So, you require an insurer with the expertise, and financial strength to meet all your individual property insurance needs. But wait a moment, will any insurer do? What if you knew that there were high-net-worth insurance companies who provided customized policies based on your specific requirements? 

Home protection covers your artwork collection, curios, valuables, and much more, that make your abode, a home. We believe that you need to identify insurance companies that are flexible in their approach and specialize in protecting affluent households. Why listen to our recommendations? We have a reputation to think of, and we are known for our reliability and consistency! Being licensed from the Department of Financial Services, Experienced Public Adjusters are professionals who advise and manage claims on behalf of policyholders so we understand your needs. Besides, we are trustworthy and protect your privacy. 

Our research suggests that certain insurance companies have customized insurance policies for million-dollar homes. We list the best five here, not in any order of merit:

AIG Private Client insurance

AIG’s Private Client high-value home insurance policy fully addresses your exclusive insurance needs. It includes policy provisions to pay for your damaged possessions at prevailing costs, and the option of receiving the claim in cash. It provides for additional living expenses in case your home is under repair due to the damages, and coverage that goes beyond your policy’s limit to ensure your home is restored to the way it was before the disaster.

Chubb Prestige

Chubb is known for its exceptional claims service. Its Masterpiece policy offers coverage exceeding your policy limit should the need arise when reconstructing your home, provides a temporary residence while your house is rebuilt, gives you the option of a cash settlement, and replaces your belongings at current cost, up to the limit on your policy. Additionally, it has a unique offering called HomeScan, which identifies problems before they can damage your home such as leaks, missing insulation, and even faulty electrical connections that may not be visible. 

Pure High-Value Homeowners Insurance

Pure offers you the option to receive a claim settlement in cash, protection coverage up to $50,000 for jewelry, drain backup coverage, and replacement of damaged items at present-day cost. Additionally, a single dedicated adjuster – PURE Member Advocate will be available to assist you with temporary housing and introduction to local contractors and vendors.

Cincinnati Insurance

With an A+ Superior rating with A.M. Best, Cincinnati Insurance belongs to a select group with strong financials. Its premium Executive Capstone Policy is focused on the needs of clients with homes starting at $1,000,000. Its flood insurance protection provides coverage up to the coverage limit of your home. Besides combining deductibles they even provide for repairs to service lines like water supply lines, and communications lines even though they fall outside the parameters of your home. It also covers the cost of additional living expenses if you need to relocate when your home is undergoing repairs. 

National General Premier

If your home’s value is up to 10 million dollars in value, the Premier Client Homeowners program from NatGen Premier is meant for your home, including your valuables and household belongings. Should the cost of repairs exceed your policy’s coverage limit, NatGen will pay the cost of rebuilding your beautiful home to the way it was. It also offers replacement of personal property at current costs and should new building codes add to the cost of reconstructing your home, they offer automatic coverage. Equipment breakdown and service line repairs are some optional coverages that they offer.

These five insurance companies have proven their mettle when it comes to addressing and covering the unique financial risks associated with high-value homes. Travelers and Nationwide also insure luxury or million-dollar homes. 

You need a Public Adjuster that specializes in Luxury Home Claims. Experienced Public Adjusters is your luxury home and high net worth home adjusters for millionaire homes.