The more your property is worth, the more complicated it can be to acquire insurance. This is especially true for high net-worth homeowner’s insurance which might place a higher premium on amenities such as staff. Here are some tips to help you navigate this type of insurance coverage and save money in the process.
Try Bundling Properties
If you own a part-time residence or vacation home, these properties are usually considered at a higher risk. That’s because unoccupied buildings are often the target of criminals and any damages may linger before being noticed. However, similar properties can often be bundled into a single policy with certain discounts applied to it.
Get Discounts for Being Smart
If you have property that lies vacant for extended periods, installing security features may help you earn discounts on your coverage. Installations such as sensors and cameras are the easiest items to add and maintain in your absence, but you can also ask your insurance provider if they recommend other features.
It does not have to be difficult to find great, affordable high-net homeowner’s insurance. You can usually make decisions that decrease the cost of insuring your valuable properties, even if they have only partial occupancy. Bundling and installing security features can save you money, but you should also ask your provider if they have other recommendations.