What Items Can Be Included in High-value Home Insurance in Colorado?

High-value home insurance in Colorado is designed to provide comprehensive coverage for luxury properties and their unique contents. This type of insurance goes beyond standard homeowners policies to protect high-net-worth individuals and their valuable assets.

What Can High-value Home Insurance Cover?

The following are key items that can be included in high-value home insurance in Colorado:

• Dwelling coverage—This can help cover the cost of repairing or rebuilding the home in the event of damage from covered perils such as fire, windstorms or hail. High-value policies often include guaranteed replacement cost coverage, ensuring the home is rebuilt to its original specifications, regardless of the cost.
• Personal property—High-value home insurance can offer extensive coverage for personal belongings, including high-end electronics, designer clothing and luxury furniture. Policies typically offer higher limits and broader protection for these items compared to standard policies.
• Valuable collections—Items such as fine art, antiques, jewelry and wine collections can be specifically insured under high-value home insurance. These policies often include coverage for loss, theft or damage, with the option for agreed value coverage, which typically pays the predetermined value of the item in the event of a claim.
• Additional structures—Coverage can extend to other structures on the property, such as guest houses, pools and detached garages. This can help ensure that all aspects of the property are protected.
• Liability coverage—High-value home insurance includes higher liability limits to protect against lawsuits for bodily injury or property damage that occurs on the property. This can also cover legal fees and medical payments.
• Living expenses—If the home becomes uninhabitable due to a covered loss, the policy can cover additional living expenses, such as hotel stays and restaurant meals, until the home is repaired or rebuilt.
• Specialized coverage—Policies can be tailored to include coverage for unique risks, such as identity theft, cyber liability, and even kidnap and ransom insurance for high-profile individuals.

Learn More

For high-value home insurance near you, contact McDonald Insurance Group today.

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.