What is high-end home insurance?

What is luxury home insurance?

Luxury home insurance, sometimes referred to as high-end home insurance or prestige home insurance, is insurance specifically designed to protect exceptional real estate and personal property. It protects homes whose value, rarity, or amenities require more comprehensive protection than standard comprehensive home insurance.
It covers high-value properties such as contemporary villas and apartments, castles, architect-designed houses and historic residences with listed features, as well as the contents they contain: designer furniture, works of art, jewelry, rare wine cellars and collections.
Its distinctive feature is its tailor-made approach. Each contract is drawn up on the basis of a personalized assessment that takes into account the value of the property, its specific features, its fittings and the use to which it is put (primary residence, secondary residence, seasonal rental, events).

What are the differences between luxury home insurance and standard home insurance?

Standard comprehensive home insurance offers standardized coverage designed for most households. While it provides effective coverage for a “standard” home, it may be insufficient for luxury properties due to low compensation limits, overly broad exclusions, or a lack of coverage for valuable items.
In contrast, high-end home insurance is based on a tailor-made approach. Each policy is drawn up after a thorough assessment of the property and its contents, often carried out by an expert appointed by the insurer. Compensation can be calculated on a “new for old” basis or according to the appraised value, without arbitrary limitations. Exclusions are reduced and the associated service is greatly enhanced: dedicated manager, personalized follow-up, accelerated claims processing, etc. In other words, where traditional insurance standardizes, prestige insurance personalizes.

What are the advantages of high-end home insurance?

Here are the main advantages of taking out luxury home insurance for prestigious properties:

Extended protection tailored to exceptional property

The primary benefit of luxury home insurance is the quality of coverage. On the one hand, it includes common risks (fire, water damage, theft, natural disasters) with higher compensation limits than traditional home insurance policies.
On the other hand, it includes specific guarantees tailored to high-value property: works of art, jewelry, antiques, and wine cellars benefit from individualized coverage based on expert appraisal. Furniture is compensated at its replacement value as new, rather than according to a calculation of wear and tear. In addition, it can also cover certain outdoor facilities (swimming pools, landscaped gardens, pool houses, sports facilities, etc.) that are generally excluded from traditional policies.
This comprehensive coverage prevents the owner from being underinsured, a frequent risk when the actual value of a property far exceeds standard limits.

Exclusive and confidential service

Finally, another major advantage is the quality of service. Insurers specializing in high-end homes often offer premium support. Homeowners can have a dedicated manager, a single point of contact who oversees the contract and claims management. In the event of a claim, for example, response times are shortened and high-end services can be mobilized: relocation to a luxury hotel, restoration of works of art or antique items by specialist craftsmen, immediate securing of the property, etc.
The approach is both confidential and responsive, meeting the expectations of owners whose assets require availability and discretion.

What coverage does high-end home insurance include?

Although it can vary from one policy and insurer to another, let's take a look at the main types of coverage and protection included in this type of policy:

Enhanced basic coverage

Like any home insurance policy, it covers major incidents: fire, theft, water damage, broken windows, natural or technological disasters. But unlike standard policies, the compensation limits are much higher and there are fewer exclusions.

Specific coverage for luxury goods

Owners of prestigious properties benefit from extended protection with high-end home insurance, including:

-Works of art and jewelry: insured on the basis of an appraisal, with regular monitoring to adjust coverage to changes in value;
-High-end furniture: compensated at replacement value, regardless of age;
-Wine cellars and collections;
-Outdoor facilities: swimming pools, tennis courts, gardens, outbuildings, carports, or pool houses can be included in the contract.

Extended civil liability and assistance

It also includes extended civil liability, covering damage caused to others, as well as damage related to domestic staff, pets, or the organization of private events. Finally, some policies include enhanced legal protection and exclusive assistance services: preventive visits, installation of security devices, regular valuation of movable property, enhanced legal assistance, etc. These services ensure that the policy always remains in line with the reality of the insured property.

For what types of homes is it recommended?

Are you wondering in what situations it is beneficial to take out luxury home insurance? Here are the types of properties that are worth insuring with this type of policy:

Prestigious residences

Luxury home insurance is primarily intended for owners of contemporary villas, Haussmann-style apartments, architect-designed houses, historic properties, and vineyards. Unusual properties (designer lofts, mountain chalets, houses listed as historic monuments, etc.) can also benefit from tailored coverage.
In general, any property whose value or furnishings (furniture or precious objects) are out of the ordinary warrants this type of policy.

Second homes

It is also relevant for second homes, which are often left unoccupied for several months and are therefore more exposed to the risk of burglary or water damage.

Property used in a specific context

Luxury home insurance may be recommended when the property is used in a specific context:
-hosting private events,
-high-end rentals,
-film shoots, or
-receptions.

These uses increase the level of risk and require enhanced safeguards.

What are the eligibility criteria and application procedures?

Each insurer sets its own criteria, but a home is generally considered eligible for high-end home insurance if it has a significant market value (often over €500,000) or exceptional characteristics (presence of high-value movable property, special architectural or historical features, etc.). The size, architecture, history, rarity, and value of the furnishings are all criteria that are taken into account.
The application process almost always involves a preliminary assessment. The insurer appoints a specialist to visit the property, estimate its value, and suggest preventive measures. The owner must provide an inventory of the movable property and some supporting documents (invoices, certificates of authenticity, photographs, plans, etc.). Following this appraisal, a tailor-made contract is drawn up. It reflects not only the value of the property and its contents, but also the owner's uses and the specific characteristics of the assets.

In conclusion

Luxury home insurance goes far beyond simple coverage for everyday risks. It constitutes a genuine strategy for protecting and enhancing your assets, tailored to the requirements of high-end real estate. Thanks to its personalized approach, extensive coverage, and premium support, it offers owners the peace of mind they need to preserve the value and integrity of their exceptional properties.
In a city like Lyon, where high-end real estate is booming, it is an obvious choice for preserving and enhancing the value of exceptional properties. Whether you are an investor, a collector, or the owner of a prestigious residence, taking out this type of policy is above all an investment in peace of mind.