What You Need to Know About Insuring Your High-value Home 

High-net-worth individuals in Rhode Island may own luxury properties that standard homeowners insurance cannot fully cover. Cormack-Routhier Agency, Inc. offers high-net-worth insurance and can help you obtain a customized homeowners policy.

Why High-value Homes Need Specialized Insurance

High-value homes often feature custom architecture, premium materials and valuable collections that exceed the limits of standard policies. These properties may also be in areas with unique risks and requirements, such as coastal exposure or historic districts. Specialized high-value homeowners insurance can address these factors and provide higher coverage limits.

Key Coverage Options for Luxury Properties

When insuring a high-value home, it’s crucial to consider coverage that goes beyond the basics. Our team may recommend the following:

• Guaranteed or extended replacement cost coverage to rebuild your home to its original specifications, even if costs exceed policy limits
• Scheduled coverage for valuable items, such as antiques, collectibles, fine art and jewelry
• Increased liability protection to address more significant risks associated with luxury properties, such as attractive nuisances and hosting large gatherings
• Additional living expenses to maintain your lifestyle if you need to relocate during repairs
• Financial protection for features such as pools, guest houses or smart home technology

Risks and Considerations for Rhode Island Homeowners

Rhode Island’s coastal location means homes are at risk of severe weather, including flooding and wind damage. High-value homes may also face increased exposure to theft or vandalism. Our agents can help you assess these risks and recommend tailored solutions, such as flood insurance or enhanced security endorsements.

Learn More

Cormack-Routhier Agency, Inc. takes a personalized approach to high-value home insurance. Our team can evaluate your property, identify exposures and secure optimal coverage. Contact us today to get

started.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.