But MY home is a Luxury Home....
If your home looks like the ones below, we have some additional thoughts for you... your policy can be GREATLY customized and the cost really isn't as much as you would think. It just depends on what you've built, custom homes are just that... custom. You want to be careful to spend your insurance dollars wisely, and prioritize what matters most to you.
This home has so many custom features. Too many for your typical insurance agent to calculate the value on. We would send out an appraiser to give you an "insurance appraisal" and we will both have a very nice report on file that is critical to have in the event of a fire or other loss.
Our office keeps one copy just in case yours is destroyed.
Often people mistake their "market value" for their insurance value. That is so far from accurate. Currently, this home could not sell for the cost to build it, due to the economy and market value being very low.
Your INSURANCE value is the cost to build the home.
After all, if the home is destroyed, our insurers pay to rebuild it exactly as it was.
The landscaping is another important coverage that is often totally left out of the policy because both the agent and the home owner are trying to keep the price down, but, if you've spent the money on an investment like this, a few hundred a year is not much to pay for the peace of mind in knowing you will have trees again after a storm. Pools, pumps, waterfalls, fountains, decks, patio furniture. It adds up quickly if you have to replace it all out of pocket!
Let us not get so caught up on the cost to rebuild the home that we forget about thoroughly insuring your personals. Every chair, every table, every piece of art, every necklace, ring, gadget and gizmo. The standard policy comes with very little coverage for things like cameras, watches, furs, paintings, rugs and firearms.
This home has elephant hide wallpaper... imagine finding a value on that! Our appraisers know all about those exquisite differences.
Lets make sure your policy covers you proper!