Your luxury home is no ordinary house: it reflects your lifestyle and protects your most precious possessions. Standard insurance is not sufficient to adequately protect such assets.

That’s why “high-end” home insurance exists. It offers optimal protection, exclusive coverage, and premium services that go beyond basic coverage.

What Is a Luxury Residence in the Eyes of an Insurer?

There is no single standard, as criteria vary from one insurance company to another. Generally speaking, a property can be considered luxurious if:

It has a high reconstruction value (often $1,000,000 or more for the building alone).
It stands out for its architecture, high-end materials, or size.
It houses valuable items (artwork, collections, jewelry, wine cellar).

Exclusive Benefits and Guarantees of High-Value Insurance

Protecting a high-value asset requires a high level of attention. Opting for a specialized insurance policy gives you access to coverage and services designed for your high standard of living.

Professional appraisal at the insurer’s expense: An expert will visit your home to estimate its actual replacement value and provide safety advice.
Building replacement cost guaranteed: In the event of total or partial loss, the insurer commits to rebuilding your home to its original condition.
Freedom of choice in the event of a claim: You receive a cash settlement with no obligation to rebuild in the same location or replace your property.
Priority treatment in the event of a claim: You benefit from 24/7 access to assistance, fast and discreet claims management, and in some cases, an advance payment.
Extended coverage: Superior protection that covers your property’s outbuildings (like a tennis court). Some insurers also offer unlimited coverage for the replacement value of your personal property, even outside your home.
Deductible management: Cancellation of the deductible for claims over $50,000.
Pair and set coverage: Whether for movable or immovable property, in the event of a claim, the insurer covers the entire assembly to which the damaged property belongs.

Unlike standard insurance, a Prestige policy covers the complete restoration of your home and aims to protect your lifestyle. For example, if water damage affects a wooden floor in one room, this type of insurance will cover the replacement of all the floors on that level to avoid any visible differences.

To summarize, Prestige insurance is designed for clients for whom insured value, aesthetics, major risk prevention, and overall asset protection are essential. It aims to avoid compromises that are often found in a standard policy when a major incident occurs.

High-end home insurance ensures that your property is protected to the full extent of its value. It offers coverage that truly fits your lifestyle.

Protection of High-Value Items

Traditional home insurance policies set specific limitations on certain high-risk personal items (jewelry, watches, art pieces, collections, etc.). These limitations correspond to the maximum amount paid by the insurer in the event of a claim for these high-value items.

With high-value home insurance, the amount covered by these limitations is often much higher. Here are two options available for you for an appropriate protection of your valuable items:

Upgrade your home insurance: Some insurers can increase the specific limit on your standard policy to cover significant amounts.
Opt for specific insurance: This is the best option for maximum coverage. It allows you to insure specific items (a collection, a wine cellar, a piece of jewelry) at their fair value. In the event of a claim, you often benefit from a reduced or zero deductible.

A Prestige insurance policy takes into account the value or rarity of your personal belongings and offers you real expertise to ensure they are properly covered.

Some Extras

Higher Civil Liability

For owners of luxury homes, it’s important to have the right amount of civil liability insurance to protect your financial assets in the event of unforeseen circumstances. We strongly recommend that our clients take out Umbrella insurance to significantly increase their liability limit and extend coverage to certain exclusions that are not included in standard insurance policies.

Cyber Protection and Criminal Acts

You can also add amendments for cyber protection and protection against criminal acts. These additional protections are particularly suited to customers with high-value assets. They cover cyber fraud, cyber extortion, child abduction, ransom demands, identity theft, etc.

These guarantees cover not only material damage, but also psychological support following trauma.

Security Measures That Make a Difference

Did you know that there are several ways to get discounts on Prestige insurance? For example, installing water leak detectors, an electric gate controlling access to the residence, and other security measures can earn you attractive discounts from your insurer.

Prestige Insurance: Is It for Me?

Every situation is unique, and not everyone has the same needs. Some people may own a prestigious home without having high-value possessions to protect. Therefore, a standard insurance policy may be perfectly sufficient for them. In this case, we can offer a slightly less high-end product with enough coverage at a lower price.

On the other hand, someone may have a more conventional home but own rare, high-value items that require specialized coverage.

This is where an insurance broker can help: they can analyze the advantages of both offers with you and advise you on the coverage that best suits your needs.

The Importance of an Experienced Broker

Insuring a luxury residence requires a different process than traditional home insurance. The role of an independent insurance broker specializing in this area is crucial:

Personalized evaluation: They will take the time to analyze your needs in detail to offer you insurance that matches your lifestyle.
Access to specialized markets: They will review the many insurance policies offered by insurers specializing in luxury goods and save you a lot of tedious steps.
Appropriate coverage: They will save you valuable time by ensuring that all aspects are covered, including supplementary insurance for luxury cars and special clauses (replacement value without obligation to rebuild, adequate protection against water damage, supplementary civil liability, etc.).

At Assurances Multi-Risques, we understand the importance of finding an insurer who understands your unique lifestyle and reality. We have access to a very large market for this type of insurance, which allows us to find the product that perfectly suits your needs.

Luxury home insurance is much more than simple coverage: it assures peace of mind. It allows you to quickly get back to your normal lifestyle if an unexpected event occurs.

Contact our brokers to build an insurance plan that fits your expectations!

Summary

High-value insurance provides appropriate protection for luxurious homes and valuable assets.

A Prestige policy offers optimal coverage with higher limits, as well as several exclusive services.

Verify whether high-value insurance is necessary for your home; its coverage and high cost may not be appropriate for your situation.

A specialized insurance broker will take the time to analyze your needs and offer you coverage based on your lifestyle.