Extra Protections That High-Value Home Insurance Makes Available

Homeowners insurance policies generally provide coverage against damage to your house, loss of your belongings, and certain liability lawsuits. High-value home insurance offers extra protection that you can get if you own an expensive house. Here are some of the more common extra protections that high-value policies offer.

Protection for Spoiled Food 

Many owners of expensive homes have large refrigerators and freezers, and the total cost of food stored in these appliances can be quite high. Should food spoil during a power outage that follows a disaster, the financial loss may be significant.

High-value home insurance policies frequently cover spoiled food and sometimes do so without charging a deductible. A policy won't cover food that goes back because you failed to eat it in time. If a disaster causes your entire refrigerator and freezer to spoil, however, the loss would likely be covered.

Protection for Plumbing Problems

A broken or backed-up pipe can lead to extensive damage. If the problem goes undetected for some time, you could have to pay for both repairs to the pipe, and replacement of surrounding materials that sustained water damage. In some cases, you might even need mold remediation.

Drain and sewer backup coverage provides protection for broken, burst, and leaky pipes. The coverage normally isn't a default feature of standard home insurance policies, although these policies may provide the coverage as an optional feature. High-value home policies usually do offer the coverage automatically, and at no extra charge.

Waiver of Deductible

All home insurance policies, including high-value policies, have deductibles. A deductible is an amount that must be paid out-of-pocket before the homeowner's policy will cover any claim. 

High-value home insurance policies sometimes have deductible waivers, which eliminate the cost of a deductible if you have a claim. Any waiver is usually only applicable if you haven't filed a claim recently, but having one available when you do file a claim could provide tidy savings. Standard home insurance policies only rarely offer deductible waivers.

Coverage for Electronic Data

Coverage for computers and other electronics is automatically included in all home insurance policies. This protection tends to only apply to hardware, though. The cost of lost software and files generally doesn't fall within the standard protection that home insurance policies provide for electronics. 

High-value home insurance policies extend coverage by supplementing the default protection with coverage for electronic data. Should you lose programs or files, this protection could help you pay for specialty services to recover them.