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High Value Homeowners

High Value Homeowners InsuranceOrchid can take the worry and hassle out of insurance for you and your clients by offering you comprehensive homeowner policies for fine homes. We connect you to industry leading carriers* such as Chubb, AIG, Nat Gen Premier and Ironshore Private Client. Raise your expectations of what your insurer should deliver. Here are a few key features that give comprehensive protection for your most discerning clients:

All Risk Coverage – Protection against property damage or loss providing broad coverage with few restrictions. Specific exclusions apply in some instances

Extended Replacement Cost – With extended replacement cost coverage, High Net Worth carriers will pay to have your home repaired or rebuilt to its original beauty—even if the cost exceeds your policy limit. This includes necessary upgrades due to modern building codes.

Cash Settlement – In the event of a covered total loss, if your client decides not to rebuild, another option is for your client to receive a cash settlement up to the policy limit.

Temporary Living Arrangements – If your clients’ home cannot be lived in due to a covered loss and they need a temporary residence while their house is rebuilt, High Net Worth carriers will help them find the right place to stay based on where they’ll be most comfortable, whether that’s a similar type of home in your school district or at a suitable hotel.

Replacement Cost Coverage – In the event that the things inside your clients’ home are damaged, there is coverage to replace the details from upgraded appliances to custom cabinets, flooring or carpentry. Belongings are covered for the amount it costs to replace them today, without deduction for depreciation, up to the limit chosen on the policy.

Building Ordinance – Unlimited coverage is available for required upgrades to satisfy local building ordinances during the rebuilding process. Your insured will not be responsible for expenses tied to required changes that are directly linked to the property damage.

Sewer, Drain Backup – Water-related damage is one of the most frequent and costly causes of loss. Physical damage caused by the backup or overflow of sewers, drains or sump pumps is commonly covered up to the policy limit.

Deductible Waiver on Large Losses (optional) – The deductible is waived typically on losses greater than $50,000 when the deductible is $50,000 or less, minimizing out of pocket expenses in the event of a significant loss.

Additional products available as an endorsement to the home policy**:

  • Primary and Excess Flood
  • Equipment Breakdown
  • Family Cyber Coverage
  • Identity Fraud
  • Family Protection/Household Safeguard

*Coverage may not be available with all carriers or in all states
**May be a separate policy with some carriers

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