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When you own a luxury home, it is important to know what a typical homeowner’s insurance policy will cover and whether your home is adequately protected. It is often the case that a high-value home’s market value exceeds what a regular policy will cover, particularly as market prices rise.
In such cases, high-value home insurance is designed to fill the gap between the replacement cost covered by regular home insurance and the actual market value of the home.
Home insurance traditionally has two caps in place that limit the payout in cases of home loss.
So, if the value of your home exceeds either of these values, you will not be covered for the actual replacement cost of your home in the event of a disastrous loss.
Typically, the greater the value of the home, the larger the discrepancy between the maximum replacement cost covered by home insurance, and the actual cost to rebuild the home. In general, homes with a value of $600,000 or more should check their insurance coverage and look into high-value home insurance in Surrey.
At Prime Insurance, we will review your current policy coverage and recommend high value home insurance if we find that your coverage is inadequate to fully cover your home’s replacement value.
High value home insurance is a necessary component of your overall insurance coverage and is surprisingly affordable. Don’t wait until disaster strikes. Contact Prime Insurance today for high-value home insurance in Surrey, Vancouver, Langley, Delta, Richmond, Maple Ridge, Coquitlam, Burnaby, North Vancouver, West Vancouver, and across the Lower Mainland, to protect your home and your family against the risk of a ruinous loss in the event of a disaster.
Why Choose Us
Luxury homes face unique risks. We provide tailored coverage that protects your home, valuable possessions, and financial well-being from the unexpected, ensuring your significant investment is completely secure from major loss.
As your home’s value increases, we regularly review your policy to prevent underinsurance. Our skilled experts simplify complex options, transparently advising on the best coverage to protect your growing investment at an affordable rate.
When disaster strikes, our dedicated professionals guide you through the claims process efficiently and with less stress. We protect your home and financial security with robust coverage that stands the test of time.
Secure Coverage for Priceless Homes
Luxury home insurance provides a range of coverage options designed to protect your residence, valuables, and financial security in the event of damage, loss, or liability.
In addition, luxury home insurance may include
Some coverage options are essential, others are optional, and certain benefits are tailored to high-value homeowners. At Prime Insurance, we review your specific needs, ensure you take advantage of all available benefits, and recommend the best coverage and limits for your luxury property.
Our Insurance Solutions
Protect your luxury property with customized coverage. Our policies safeguard your unique home, worldwide valuables, and financial legacy with dedicated advisors and concierge claims support.
YSecure your retreat property with specialized insurance. We protect your vacation home against unique risks like vacancy and weather damage, including liability and high-end contents.
Protect your luxury condo where the master policy won’t. Our coverage safeguards your high-end upgrades, personal property, and liability, ensuring your sophisticated lifestyle is secure.
Prime Protection for Your Most Valuable Investment.
Don’t wait until disaster strikes to be left with the gaps in your home insurance. Protect your investment and your family’s future through tailored, comprehensive coverage for high-value homes.
At Prime Insurance Centre Ltd., we’ve been insuring Surrey and Greater Vancouver homeowners and residents since 1994. Being a member of the community ourselves, we understand the specific risks that luxury homes face and can provide specialized guidance to ensure that your coverage is comprehensive. Regardless of whether you live in Surrey, Vancouver, Langley, White Rock, Delta, Richmond, Maple Ridge, Coquitlam, Burnaby, North Vancouver, or West Vancouver, our experts will cover your home and property fully.
Phone Prime Insurance Centre Ltd. today for top-quality home insurance that gives you peace of mind, financial security, and trustworthy protection of your most valuable assets.
What our Clients Say
Excellent service. Kul was great, very personable. Took the time to look thru my insurance options and even get me extra discounts. Definitely will recommend and use Prime Insurance from now on.
I been using this location for my business for years, great customer service and knowledgeable people.
We have been buying house, car and travel insurance for the last 25 years. Kul is very helpful and knowledgeable. He goes the extra mile to treat his customers, the whole team treats their customers like there own family
I was so pleased with the great service and the advice given to me. I also always recommend them to family and friends. They never disappoint. So hard to come by these days. Probably the best shop in Surrey for insurance.
Excellent services received, attended on time, explain everything for clarification and I felt like a very great valued customer. Will definitely refer and recommend this location to my family and friends. Rating 9/10.
Excellent service. Sharan is very friendly and knowledgeable. Got answers to all my questions. Highly recommend this place.
Our Blogs
From understanding your ICBC renewals to choosing the right home or business insurance, our blog breaks down complex topics into clear, helpful tips
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FAQ’s
An exceptional property requires more than standard coverage. Find clear answers to common questions about securing your significant investment.
Standard policies often have coverage caps that fall short of the true cost to rebuild a luxury or custom home. High-value insurance is designed to cover this gap, ensuring you can rebuild without compromise.
Often, they are not fully covered under a standard policy. We specialize in policies that offer higher, specific limits for valuables and can even provide worldwide coverage, protecting them wherever you are.
Market value is what your home would sell for, while replacement cost is the actual price to rebuild it with similar quality materials and craftsmanship. We insure for replacement cost to properly protect you.
Yes, we highly recommend it. Features like pools, extensive grounds, or hosting events increase your liability risk. We ensure your coverage is sufficient to protect your assets from a major lawsuit.
It means you get a dedicated, high-touch level of service. If you need to make a claim, you’ll work with a dedicated expert who manages the process for you, ensuring a swift and stress-free resolution.
We work with appraisers and specialty insurers who understand the unique craftsmanship, materials, and features of historic and custom homes to determine an accurate rebuild cost, ensuring no detail is overlooked.
Get in Touch With Us
We’re open daily to help you find the right coverage or make updates to your current policy.
