What’s the Difference Between High Value & Standard House Insurance

high value home insurance
Jul 11

Not all homes are built equally. Not all people need the same level of insurance coverage. At Harbord Insurance, we understand that some of our clients may need a higher level of insurance coverage. That is why we provide multiple different options for High Value Home insurance policies. These options, along with our expert staff, make sure that you are provided with the best coverages for your needs.

Our High Value Home department specializes in homes with a rebuilding value of $750,000 and higher. The policies that they can provide include the standard coverages that are available on a home policy, but can also include some specific coverages tailored to the High Value market.
What does a High Value policy typically include?

Liability Coverage:

While most policies limit the liability coverage to a maximum of $2,000,000, a High Value policy will often provide a minimum of $5,000,000 of liability coverage.

No ‘Same Site’ Restriction

Most policies require that when there is a claim where the total home is destroyed that the client must rebuild their home on the same property. Some High Value policies allow you to make the choice or where to rebuild.

Cash Payout on the Home

On a standard insurance policy, you are required to rebuild the exact same home (in the same place) as you had before the claim happened. With some of our High Value Home policies we offer you the option to simply receive a cash payout instead of requiring you to rebuild. This can be a great option for clients who would be looking to downsize from a family home; you could perhaps use some of the cash to buy a smaller house or condo and use the money left over however else you wanted. The point is that the choice would be yours.

Cash Payout of Contents

If you were to make a claim on your contents on a standard home policy you would be required to replace all of your contents in order to get the full payout from the insurance company. Our High Value options can allow you to choose a cash settlement for the full value of your contents, even if you chose not to replace them.


Most insurance policies place a limit upon how much jewellery is covered under a policy. High Value policies increase that limit substantially, which means that the majority of our High Value clients no longer need to worry about providing us with up to date appraisals, and also don’t need to pay anything extra for their jewellery to be sufficiently covered.

High Value policies include many other coverages and options, and our insurance experts can find a policy that would be tailored to your specific needs. If you would like to learn more about these options, please feel free to contact us at 250-388-5533.