High Value
House & Condo Insurance

When a house is destroyed, almost all other insurance policies obligate the policy holder 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 policy holder can rebuild where they like. The choice would be yours.

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.

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 Luxury 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.