High Valued Homes

High Valued Homes

High Value requirements:

Not all brokers or insurance companies can handle this type of client. If you have a home or referral that has a Coverage A of $750,000 or more, home over 5,000 sq ft, has a net worth of over 3 million dollars and/or is a Director/Officer (D&O), they should/may qualify as a High Valued client and needs the proper coverage/protection. Regarding Goosehead and the relationship with our carriers, we are required to insure three of the four lines (Home, Auto, Personal Lines and Excess Liability $5 million). Besides Home and Auto coverages, we are looking out for their entire portfolio/net worth to properly protect them from liabilities.

The process and expectations:

This process is vastly different from a standard Homeowners policy on the standard market. Once you refer the client to me, I will contact them with a full intake and set expectations. This may take several phone conversations with the client, their wealth manager, CPA, CFO, etc. I will shop the standard market and the high value market. Once things are finished on my end, I will submit that application and proper documentation to the carrier underwriters. At that point, the underwriters can take up to 5 -7 business days to get an approval, a declination, or the need for further information from the client. They will then issue a quote that we can send to the client. This process is lengthy and does require care to properly protect your client and us from E&O’s. The great news is that we carry all carriers for High Valued Homes, and we should find some great options for your clients.

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