Harbord's High Value policy is a Home Insurance policy designed exclusively for High Value Homes. It provides many powerful advantages over almost all other home insurance policies and won't cost you much more. How much more varies in each instance. A good estimate would be somewhere in the 10 -15% range, although we have had situations where people have actually saved money with this policy. If your property's market value is between $700,000 and $5 million, contact our High Value department for an in-home consultation with a Senior Insurance Advisor.
Powerful Advantages:
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Liability
Most other policies limit their liability coverage to one or two million dollars but Harbord's High Value policy provides $5 million in liability coverage. And the coverage is broader too. For example, it protects you if you're sued for slander or if a worker is injured at your home. Most policies don't.
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Claims Settlement - No "same site" restriction
When a house is destroyed, almost all other insurance policies obligate the policyholder to rebuild on either the same site or the adjacent site. But with Harbord's High Value Home policy, this restriction doesn't exist and the policyholder can rebuild where they like. The choice would be yours.
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Claims Settlement - Cash Payout on the Home
There's another way that Harbord's High Value policy allows for a way of settling claims when a house is destroyed that's far more flexible and fair than the industry norm. Here's how it works. If you didn't want to rebuild, the only cash settlement offered under the terms of most other policies would be based on quite a lot less than what it would cost to rebuild. But with Harbord's High Value Home policy, if you didn't want to rebuild you could take a cash payout equal to the full amount that it would cost to rebuild. You could then do whatever you wanted with that money; 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.
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Claims Settlement - Cash Payout on Contents
The terms of almost all other insurance policies obligate the policyholder to replace destroyed or stolen possessions. If you don't want to replace some or all of them, the cash settlement offered would be based on quite a lot less than full replacement cost. But with Harbord's High Value Home policy, you could just take a cash payout equal to the full replacement cost of your possessions, without any deduction for depreciation. Once you've got the cash, then you can decide what you'd like to do with it.
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Claims Guarantee
In the rare case that your claim cannot be resolved to your satisfaction you will receive a cheque in the amount of your annual premium. Claims service is available 24 hours a day, 7 days a week.
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Mortgage Rate Protection
If your home were destroyed, your lender might "call in" your mortgage. If you then had to arrange a new mortgage at a higher rate, your High Value Home policy would pay the difference between the old and the new rate on the balance of your outstanding mortgage. Very few other home insurance policies provide any mortgage rate protection at all.
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Jewelery
With most companies, insuring jewelery is so difficult and expensive that you don't even want to bother because you have to get each item appraised and then you're charged an exorbitant rate to list or "schedule" each item separately. But with our High Value Home Policy, having your jewelery insured is easy. No appraisals, no lists, no schedules. That's because jewelery is automatically covered to a way higher limit than almost all other policies. And, as long as your jewelery falls within a $50,000 limit that also includes furs, there's no extra charge.
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Wine
Whereas most policies don't provide any coverage at all for wines, our High Value Home policy provides coverage for losses to wine at your home, including breakage, up to the replacement cost of $10,000.
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Identity Theft
Most other home insurance policies, if they provide any protection at all against Identity Theft, limit that protection to $10,000. With Harbord's High Value Home policy, you're insured against Identity Theft up to a limit of $30,000.
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