Often the largest purchase made in a lifetime, a new home is a point of pride and a milestone to celebrate. As a homeowner, choosing the right insurance company with reliable coverage for your home, belongings and assets can help protect your most meaningful investment. Occasionally we stumble upon a good deal but, cost and quality are closely linked (i.e. hotels, cars, restaurants, etc…).

In the same way that conservative lenders will only loan money to people who are financially stable; conservative insurers will only write policies for responsible, lower-risk families.  Companies such as PURE, Chubb, Cincinnati and AIG’s Private Client Group have strict qualifying standards and provide policies designed to cover high value homes, cars, jewelry and fine art.  By narrowing their focus to homes valued at $1,000,000 or more and underwriting cautiously, they are able to limit losses and charge a price that is usually even lower than a standard carriers “cookie cutter” policy.  Mass market insurance companies advertise as if they sell a commodity, but nothing could be further from the truth.  Below is a list of benefits offered by the carriers that specialize in in “affluent personal insurance”:

  • Guaranteed Replacement Cost: If you choose to rebuild your home after a loss, these carriers will pay whatever it costs to make you whole. A standard carrier will only pay the limits listed on your policy.

  • Cash Out Option: If you choose not to rebuild after a loss, you can take your policy limits in the form of a check and move on with your life. A standard carrier will make you rebuild using their strict guidelines.

  • Concierge Service: Service providers, agents and claims adjusters for these companies are more understanding and better equipped to handle the needs of this type of client.

  • Unlimited Loss of Use: If you are without your home or car for an extended period; the costs to relocate or find a good rental car are not limited.

  • More Discounts Available: Attached is a list of some of the homeowner’s credits and surcharges available. These allow for accurate pricing that is in-line with the risk and aligns the carriers interest with those of the policy holder.

V.I.P. Insurance Services, LLC represents and maintains a thorough knowledge of each carrier and provides free reviews. To request your review, contact us today.

Joe Conroy

Executive Vice President

V.I.P. Insurance Services, LLC

Office: 602.635.3524

Cell: 763-232-9818