Best high-value home insurance companies (2024)

Check out our picks for the best high-value home insurance companies that feature higher coverage limits, better policy add-ons, special protection against natural disasters, and more policy perks.

Headshot of Pat Howard
Headshot of Rachael Brennan

By

Pat HowardManaging Editor & Licensed Home Insurance ExpertPat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.&Rachael BrennanSenior Editor & Licensed Auto Insurance ExpertRachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Edited by

Jennifer GimbelJennifer GimbelSenior Managing Editor & Home Insurance ExpertJennifer Gimbel is a senior managing editor at Policygenius, where she oversees all of our insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

Updated|3 min read

Policygenius content follows strict guidelines for editorial accuracy and integrity. Learn about our editorial standards and how we make money.

High-value home insurance is typically designed for high-net worth individuals with homes valued at $750,000 or more who have expensive valuables and millions of dollars in assets. It's available through both luxury insurance companies like Chubb and AIG that specialize solely in high-value coverage, as well as standard home insurance companies like Nationwide and Travelers that offer special products for high-value homes.

Ready to shop for high-value home insurance?

Best high-value home insurance companies of 2024

Our picks for the best high-value home insurance companies of 2024 include Openly, Nationwide, Travelers, Chubb, and AIG thanks to their mix of robust policy add-ons with high coverage limits, white-glove customer service and claims handling, and extra perks like cash-settlement claims and wildfire and hurricane mitigation services.

Company

A.M. Best rating

Policygenius rating

Openly

A-

4.6 out of 5

Nationwide

A+

4.5 out of 5

Travelers

A++

4.4 out of 5

Chubb

A++

4.3 out of 5

AIG

A

4.2 out of 5

Methodology: Why you can trust our picks for the best high-value home insurance companies

To find the best home insurance companies for high-value homes, our team of licensed insurance experts and operations specialists reviewed over 60 companies using an extensive rubric of criteria including A.M. Best ratings, customer complaint data, coverage options, and more to find companies that offered the following:

  • Robust policy add-ons and high coverage limits that cater specifically to high-net worth individuals

  • Strong customer satisfaction ratings and reviews

  • Excellent perks you won't find with a standard home insurance company

award icon

2024 Policygenius award winner

Openly

Openly logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.6

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A-

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Offers extended replacement cost

Offers earthquake insurance

Bundle home & auto

Why we chose itchevron icon

Openly insures homes up to $5 million with its impressive lineup of customizable policy add-ons that come with high coverage limits.

Pros and conschevron icon

Pros

  • Offers up to $5 million in coverage for high-value homes

  • Robust lineup of policy add-ons with high limits to customize coverage to fit your needs

  • No restrictions on pools without fences or dangerous dog breeds

Cons

  • Only available in 21 states

  • Fewer home insurance discounts than competitors

  • Not included in J.D. Power’s customer satisfaction studies

More detailschevron icon

Why Openly is best for high-value homes

Openly offers up to $5 million in coverage for high-value homes, as well as a slew of coverage add-ons to ensure your most prized possessions are fully protected:

  • Guaranteed replacement cost coverage for your home

  • Replacement cost coverage for your personal belongings

  • Scheduled and blanket personal property coverage

  • Earthquake coverage

State availability

Openly offers home insurance policies in the following 21 states: Alabama, Arizona, Georgia, Illinois, Indiana, Kansas, Kentucky, Maine, Massachusetts, Mississippi, Missouri, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Utah, and Wisconsin.

Openly has plans to expand coverage to Connecticut and Virginia in 2023.

award icon

2024 Policygenius award winner

Nationwide

Nationwide logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.5

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A+

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

New homebuyer discount

Smart home discounts

Offers wildfire insurance

Offers flood insurance

Offers earthquake insurance

Offers extended replacement cost

Mobile app

Why we chose itchevron icon

Nationwide offers a special home insurance product for high-net worth individuals with homes valued at over $750,000, expensive valuables, and millions of dollars in total assets.

Pros and conschevron icon

Pros

  • Multiple high-quality coverage options

  • Highly rated for claims satisfaction with J.D. Power

  • Available in most states

Cons

  • Below-average customer satisfaction and digital experience ratings

  • Won’t cover Airbnbs or other short-term rentals

More detailschevron icon

Why Nationwide is best for high-value homes

Nationwide is a standard home insurance company that also offers homeowners insurance packages for high-value homes through its Nationwide Private Client policies. A few coverage add-ons and perks include:

  • Guaranteed replacement cost coverage

  • Replacement cash-out settlement options

  • Higher coverage limits for damage to fine china, porcelain sculptures, and other easily breakable items in your home

  • Specialized claims service

  • Private firefighter and mitigation services for homes in high-risk wildfire areas

  • Earthquake insurance through the California Earthquake Authority

  • Flood insurance through the National Flood Insurance Program

State availability

Nationwide homeowners insurance is available in the following 43 states and Washington, D.C.:

Alabama, Arizona, Arkansas, California, Colorado, Connecticut, Delaware, Georgia, Idaho, Illinois, Indiana, Iowa, Kansas, Kentucky, Maine, Maryland, Michigan, Minnesota, Mississippi, Missouri, Montana, Nevada, New Hampshire, Nebraska, New York, North Carolina, North Dakota, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Vermont, Virginia, Washington, West Virginia, Wisconsin, and Wyoming.

award icon

2024 Policygenius award winner

Travelers

Travelers home insurance logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.4

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Smart home discounts

New homebuyer discount

Mobile app

Offers extended replacement cost

Offers flood insurance

Why we chose itchevron icon

Travelers offers a special home insurance package for homes valued at $1 million or more that comes with extended replacement cost coverage for your home, increased coverage limits for your personal belongings, and cash-settlement claims.

Pros and conschevron icon

Pros

  • Green home coverage and discounts

  • Offers short-term rental coverage for Airbnb hosts

  • Doesn’t require prior insurance on the home

Cons

  • Subpar customer service ratings with J.D. Power

  • Underwhelming number of available discounts

More detailschevron icon

Why Travelers is best for high-value homes

Travelers offers a special home insurance policy endorsement for homes valued at $1 million or more that comes with special coverage add-ons and perks, including:

  • Extended replacement cost coverage that increases your dwelling coverage limit by 25% in case rebuild costs increase after a natural disaster

  • Increased ordinance or law coverage limits to account for higher rebuild costs to get your home up to code after a catastrophe

  • Higher coverage limits for your personal belongings, including boats, yachts, jewelry, and more

  • Identity theft insurance to protect your bank account or credit cards from getting hacked

  • Cast-settlement claims if you decide you don't want to rebuild your home after a total loss

  • Up to $10 million in umbrella insurance coverage to protect your personal assets and liability

  • Flood insurance through the National Flood Insurance Program

State availability

Travelers homeowners insurance is available in 48 states and Washington, D.C., but it is not available in Florida or California. 

Chubb

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.3

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A++

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

All 50 states

Offers flood insurance

Offers extended replacement cost

Offers wildfire insurance

New homebuyer discount

Why we chose itchevron icon

Chubb is a luxury insurance company, which means its policies are designed for high-net worth homeowners who have expensive estates and other assets that also need to be insured, like a boat or luxury car.

Pros and conschevron icon

Pros

  • Extended replacement cost coverage

  • Cash-out claim settlements

  • Complimentary wildfire and hurricane mitigation services

Cons

  • Only insures high-value homes

  • Below-average J.D. Power customer satisfaction ratings

More detailschevron icon

Why Chubb is best for high-value homes

Chubb offers all the standard homeowners insurance coverages, but with lots of additional perks, including: 

  • Extended replacement cost coverage for your home

  • Replacement cost coverage for your personal belongings

  • High sub-limits for expensive personal property, like jewelry, furs, and firearms

  • Cash-out loss settlement reimbursement options

  • Unlimited loss-of-use coverage in most states

  • Property manager services if your seasonal or second home is damaged by a hurricane or windstorm and you're not there

  • Private firefighter and mitigation services for homes in high-risk wildfire areas

  • High-tech home inspections services to detect potential security issues in your home

  • Private flood insurance with up to $15 million in coverage

  • Personal umbrella insurance with up to $100 million is liability protection

State availability

Chubb offers home insurance policies in all 50 states and Washington, D.C.

AIG

AIG home insurance logo

Policygenius rating 

Our proprietary rating methodology takes multiple factors into account, including customer satisfaction, cost, financial strength, and policy offerings. See the "methodology" section for more details.

Full orange starFull orange starFull orange starFull orange starHalf orange star

4.6

AM Best rating 

AM Best is a global credit rating agency that scores the financial strength of insurance companies on a scale from A++ (Superior) to D (Poor).

A

Cost 

Using a mix of internal and external rate data, we grade the cost of each insurance company's premiums on a scale from least expensive ($) to most expensive ($$$$$).

$

$

$

$

$

Bundle home & auto

Insures older homes

Offers wildfire insurance

Smart home discounts

Offers extended replacement cost

Why we chose itchevron icon

AIG is best for homeowners with high-value homes and assets who need a policy with high coverage limits — it only writes policies for homes with insured values of more than $750,000 in most states ($1 million in New York).

Pros and conschevron icon

Pros

  • Industry-best customer and claims satisfaction ratings with J.D. Power

  • Guaranteed & extended replacement cost coverage available

  • Complimentary wildfire and hurricane mitigation services

Cons

  • Doesn't allow you to purchase standalone home insurance

More detailschevron icon

Why AIG is best for high-value homes

AIG is best for high-value homeowners looking to purchase multiple insurance policies through AIG Private Client Group — it doesn't write stand-alone home insurance policies. You need to bundle your home insurance with a separate collections, yacht, auto, excess liability, or equine insurance policy.

Additional coverages and perks that come standard with an AIG home insurance policy include:

  • Guaranteed replacement cost coverage for your home

  • Blanket and scheduled personal property coverage with higher limits to protect your most-prized possessions

  • Personal property coverage for private staff

  • Cash-settlement options if you decide not to rebuild your home after a total loss

  • Wildfire and hurricane mitigation services if you live in an area at high risk of wildfires or windstorms

  • Risk assessment services for homeowners of historic or architecturally significant properties

State availability

AIG offers home insurance policies in all states except Hawaii and Alaska.

Ready to shop for high-value home insurance?

What is high-value home insurance?

A high-value home generally means a home with a replacement cost value of at least $750,000, and a standard homeowners insurance policy likely doesn’t offer enough coverage for this. 

High-value home insurance policies are more expensive than standard insurance since they typically include extended or guaranteed replacement cost coverage for your home, replacement cost coverage for your personal belongings, high coverage limits for expensive valuables, and other perks that aren’t found in a standard policy.

What does high-value home insurance cover?

High-value homeowners insurance policies typically include higher coverage limits, multiple additional coverage endorsements, and extra policy perks related to mitigation services and claim settlements.

Here’s what you should expect from a high-value home insurance policy compared to standard coverage:

Higher coverage limits

A high-value home insurance policy often includes these higher coverage limits, including:

  • Guaranteed replacement cost coverage for your home: Covers the full cost to rebuild your home after a disaster — regardless of whether the cost exceeds your policy limits.

  • Replacement cost coverage for your personal belongings: Covers your personal belongings at their replacement cost instead of their actual cash value, meaning depreciation isn't taken into account when deciding your claim payout.

  • All-risk coverage: This is superior to named-perils coverage since it protects your home, other structures on your property, and belongings against all causes of loss except the specific peril exclusions listed in your policy.

  • Scheduled and blanket personal property coverage: Increased coverage limits for specific items that you schedule or blanket categories of valuables, including jewelry, firearms, artwork, or collections.

  • Higher coverage limits: Includes increased amounts of coverage for liability insurance, loss-of-use coverage, and debris removal and landscaping coverage.

Better coverage add-ons for enhanced protection

High-value home insurance companies often include additional coverages that come standard in their base policy, as well as others you can add on for even more protection, including:

  • Identity theft: Pays to recover your identity after fraud, including matching you with a consumer fraud specialist, paying for attorney fees if you take the perpetrator to court, assisting with civil suits and criminal cases, and more.

  • Business property: Coverage if your work laptop or other business property are stolen or damaged in a covered loss.

  • Ordinance or law: Pays the extra cost to get your home up to code after a covered loss.

  • Higher flood insurance limits: Offers millions of dollars in flood coverage if your home and belongings are water-logged in a natural disaster.

  • Vacation and second homes: Allows you to customize your home insurance policy to add on protection for additional properties you own worldwide.

  • Kidnap, ransom, and extortion: Offers crisis management services if your family is targeted by extortionists.

  • Personal injury protection: Expands liability coverage to include personal injury to others, such as slander, libel, wrongful eviction, or false arrest.

Additional policy perks

With high-value home insurance coverage, you’re paying for a lot more than just better coverage — luxury home insurance providers also offer special benefits that often aren't available through a standard insurance company.

Here are a few perks that might come along with a high-value homeowners insurance policy depending on the company you choose:

  • Home appraisal services: Offers free home appraisals to make sure your insurance coverage limits are adequate, and in the event you decide to sell your property.

  • Cash-out settlements options: Choose to receive a cash settlement after a total loss rather than rebuilding your home.

  • Deductible waiver: High-value home insurance companies often waive your deductible for losses over $50,000.

  • Loss-prevention consultations: Offers suggestions for updates you can make to your property to mitigate damage if you live in an area at high risk of flooding, windstorms, earthquakes, wildfires, or other natural disasters.

  • Wildfire protection services: Homeowners in high-risk wildfire areas often receive private firefighter services to further protect your home from brush fires.

  • Hurricane protection services: Homeowners in areas at high-risk of hurricanes can get ongoing monitoring in the lead up to a hurricane, as well as expedited claims and access to qualified restorations companies after the storm hits.

  • Architectural legacy services: Offers risk assessments, custom reports outlining your home's history, and more services for homeowners of historic or architecturally significant properties.

Ready to shop for high-value home insurance?

How much does high-value home insurance cost?

High-value homeowners insurance policies are going to be more expensive than the average cost of a standard home insurance policy, which is $1,754 per year — according to our analysis of 2023 home insurance rate data from across the country.

AIG customers paid almost two times as much as the average customer, with a $3,564 average annual premium according to Policygenius data. And Chubb customers typically pay three times as much as standard customers, with a $5,550 average annual premium according to the same data.

Keep in mind the amount you pay will vary depending on the size and rebuild cost of your home, where it’s located, its age and build, your credit score, and if you need any additional coverage for high-priced valuables.

Does home insurance depend on the value of the home?

No, your home's market value has no correlation with how much homeowners insurance you should buy. Your home's replacement cost, or rebuild value, is what you should base your home insurance needs on.

How do I know if I need high-value home insurance?

How much home insurance you need is based on your home's rebuild cost, not its market value. That means you need enough dwelling coverage to rebuild your home from the ground up in the event that it’s destroyed by a covered peril.

Typically, if your home’s rebuild cost is over $750,000, you’ll need high-value home insurance. When you get a quote from an insurance company, they will provide you with an estimate of your home’s replacement cost. But you can calculate it yourself using our replacement cost calculator. You can also speak to local contractors and appraisers in your area to get an estimate of rebuild costs. 

Can you insure a property for more than it's worth?

Yes, you can insure a property for more than it's worth — but you shouldn't base your home insurance coverage on your property's value in the real estate market. Instead, you should insure your home at its replacement cost value, meaning the amount it would cost to rebuild your home from the ground up using similar construction materials.

Ready to shop for high-value home insurance?

Authors

Pat Howard is a licensed insurance expert and managing editor at Policygenius. Pat has written extensively about the home insurance industry and his insights as a subject matter expert have appeared in several top tier publications, including The New York Times, The Wall Street Journal, CNBC, and Reuters. Pat has a bachelor's degree in journalism from Michigan State University.

Rachael Brennan is a senior editor and a licensed auto insurance expert at Policygenius. Her work has also been featured in MoneyGeek, Clearsurance, Adweek, Boston Globe, The Ladders, and AutoInsurance.com.

Editor

Jennifer Gimbel is a senior managing editor at Policygenius, where she oversees all of our insurance coverage. Previously, she was the managing editor at Finder.com and a content strategist at Babble.com.

Questions about this page? Email us at .