High Value Home Insurance


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:

  • A maximum per square foot value
  • A total overall maximum value

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.

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