Abram Interstate Insurance Services, Inc., CMGA

Helping Independent Insurance Agents Since 1996

5 Things to Know About High Value Homeowners Insurance

Published on January 12, 2016

If you’re an insurance agent that has yet to insure your first High Value Home, it’s not too late to break into that market! At Abram Interstate, one of our goals as your MGA is to not only provide you with the insurance coverage that your customers need, but to also help you with the education and tools you need so that you’re able to take full advantage of our Insurance Markets.

Our wholesale High Value Homeowners Insurance market has the potential to be an incredible asset to your agency. California has more potential need for this market than any other state. Whether it’s a Hollywood mansion, an old Victorian in San Francisco, a new custom home in Silicon Valley, or one of the many high value homes in the hills, valley or on the coast, all of these need a specialized insurance that covers the house’s high value contents as well as the unique facets of the house itself that are costly to rebuild in the case of a loss.

If you’re interested in getting into the High Value Homeowners Insurance niche (which can be highly beneficial and lucrative), there’s some things you should know. The Insurance Journal put together the following list.

5 Things To Know About High Value Homeowners Insurance

  1. It is estimated that 40 percent of high-value homes are underinsured. Often, homeowners will only hold enough insurance to cover their mortgage or the sale price of the home, and not enough to rebuild in the event of a total loss. The mortgage or sale price of the home does not include custom work or specialty construction. Agents need to review these areas with their clients. —Bill Gatewood, director of personal lines at Burns & Wilcox (Read expert advice from our Personal Lines Staff on securing accurate replacement costs.)
  2. Direct writers control about 85 percent of the high-value homeowners market. There is still a whole lot of business out there that is ripe for the picking. —Molly Rondeau, distribution sales and marketing executive at Crestbrook Insurance
  3. Most high-value home policies provide generous, if not essentially unlimited, living expenses coverage. Most high-value home policies provide protection for back-up of sewers and drain. They also provide generous basic coverage, with options to customize higher limits, for valuable collections. —Tom Ealy, president of Encompass Insurance
  4. Luxury condos are a popular choice among high-net-worth individuals looking for a second or seasonal home. In many cases where individuals may rent out or use these second homes for “vacation swaps,” agents need to be aware that a client is doing this. —Scott Sauter, personal lines product leader for All Risks Ltd.
  5. The culture of the high-valued market is to deliver quality products while providing personal attention. The opportunity in this niche is tremendous, but expertise is important. —Denise Koslowsky, principal at Advocate Brokerage Corp. and a PRMA founding member

Our Wholesale High Value Homes Insurance Product

  • Limits from $1,000,000 to $50,000,000
  • HO-3 form with extended replacement cost
  • 70% personal effects coverage
  • Personal Injury
  • In and Out Servant coverage available
  • In home business coverage available
  • Ordinance or Law
  • Scheduled Personal Property
  • Wrap around policies
  • Umbrella
  • Personal article floater

Chat with us online for eligibility requirements or a brush check.  Flexible Payment Options Now Available.

Send in your ACORD Homeowner Application to apps@abraminterstate.com today!


Abram Interstate Insurance Services, Inc. is a California wholesale insurance broker (CMGA) that has licensing and expertise to place business in both admitted and non-admitted markets for Personal Lines Insurance, Commercial Lines Insurance, and Agribusiness Insurance in California and surrounding areas.

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