High-Value Home Insurance

What is high-value home insurance?

Homes that have a replacement value of $1,000,000 and over are generally categorized by home insurance underwriters as high-value homes. If you have a luxury residential property, or one that is unique, heritage, custom designed or housing valuable collections, you will need a home insurance policy that is customized for your needs, and we can help. A detailed home insurance assessment is important as even homes with replacement values below $1m may be classified as a high-value home.

Connecting you to experts

Reliance Insurance has extensive expertise in home insurance and we have developed a proprietary risk strategy service to ensure that you have the correct insurance coverage for your home. To start, we’ll help you get the appropriate free professional appraisal to determine your building’s replacement value. Our professional affiliates understand the complexity and care required to rebuild a custom or architecturally unique home. We know your time is as valuable as your property, so we offer at home free consultations to determine the best home insurance policy for your property and contents.

Valuable home contents

It is important to understand how we determine your risk in order to have your contents appraised and documented correctly, especially regarding unique or custom furniture, wine collections, or other collectibles such as art or jewellery. To maximize replacement value it is important to be able to prove loss. We recommend that a detailed inventory is completed on a regular basis and do a video record of the contents and possessions.

Risk analysis

Insurance is complicated and it is best to work with a high-value home insurance specialist who understands the complexities of risk management. When the policy and the planning are done correctly, this forms the foundation for maximized payments and faster processing times. We can also make recommendations for securing your home in order to minimize losses.

Specific insurance coverage

In addition to overall property and liability insurance, high-value home insurance can also cover:

  • Wine collections, including breakage, access to wine experts to provide cellar management and proper wine storage
  • Wine label coverage, protection against label damage which can reduce the value of the wine
  • Fine art and other valuable collections
  • High-end landscaping
  • Newly acquired items: These are automatically covered up to 25% of the total fine arts schedule, usually up to 90 days.
  • Mysterious disappearance of contents or personal possessions
  • Pairs and set coverage, with the option of partial loss settlement for one damaged article or total loss settlement if customer surrenders the remaining undamaged item.
  • Equipment breakdown, coverage for air condition units, refrigerated units, water heaters, generators, elevators, water pumps.
  • Breakage of fragile items, including fine art
  • Home and vehicle modification
  • Family protection for kidnapping and ransom, home invasion, carjacking and stalking threats

Exceptional VIP insurance claims service

Reliance has a dedicated claims specialist to help you through what can be a very difficult and confusing process. Evan Miles, our VP of Claims has years of experience and is here to advocate on your behalf to help ensure the claims process is handled to the Reliance Insurance standard, including:

  • Immediate contact with client after a loss
  • A thorough and clear explanation of options available
  • Fair and efficient assessment of loss
  • Prompt payments after claim has been settled

We’ve got you covered

Having the right protection is the best way to ensure a smooth claim process and keep your valuable assets covered. We make sure that your policy is tailored to your unique set of circumstances. Our dedicated high-value home insurance specialists will work with your directly - call Sandra, Doug, or Sheila in the Personal Lines department to get your policy started.

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