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If you own a prestigious home here in Australia then it’s important to have a prestige home insurance policy.
This type of policy is written and designed to cover highly valued properties across Australia which also include added perks that don’t typically come as standard.
Whether you are a new homeowner looking to put a prestige home insurance policy in place or you have a policy and looking for a better deal, we have you covered. We focus on providing you with a good balance between competitive pricing and great coverage.
Professional
tailored advice
Competitively
priced policies
Comprehensive
cover options
Professional
tailored advice
Competitively
priced policies
Comprehensive
cover options
What you need to know about
Prestige homes insurance policies are only available for homes which have a high sum insured value for the building and also the contents. This level of cover typically has higher limits for things like jewellery, art work, antiques and collectable items that you don’t typically have on standard home insurance policies.
A prestige home insurance policy is typically targeted to the following properties:
Need a Prestige Home Insurance Broker? We've got you covered.
We understand that running a business takes a lot of work and as a business owner you’re expected to be across all of the different aspects of your business operation. We have tried to make our process as simple as possible and all of our Brokers work with each business owners to have a strong understanding of your business and whats required to be in place to ensure that there are no nasty surprises. We pride ourselves on not hiding behind the fine print.
To summarise, a typical home insurance policy won’t cut it. For a luxury property that is a state of the art, one of design or is architecturally built to a high level of standard are no designed to be covered under a standard home insurance policy.
Your luxury home insurance will include higher limits, more inclusions and provide a higher level of service to whats known in the industry as “standard”. Your house isn’t standard, so why should your insurance policy?
We specialise in providing prestige home insurance policies for luxury homes, villas, penthouse suites and the like. Speak with one of our brokers today to ensure that one of your greatest assets is covered appropriately.
Prestige home insurance is designed to be for houses that are over $2,000,000 in building value and as such have higher limits under their additional benefits sections. For example some benefits that would typically have higher limits are things like jewellery, works of art, higher limits for emergency call outs and repairs.
These policies are also generally sourced through an insurance broker if you would like more information on how to source a good broker you can read our article here.
This isn’t something specifically required by the insurer however, it is best practice to ensure that your property is insured for its realistic replacement value. The best way to do this is by having valuations completed regularly. We typically only recommend this during inflationary periods or every 3 years to ensure that you are allowing for correct building material values and trade costs.
Along with the replacement cost of your home, the cost of your insurance policy should also be considered and how this is treated in the event of a claim.
Yes, this is a standard condition on most home insurance policies. However, under prestige home insurance policies the limits are once again higher to allow for a higher level of living standard that you are used to.
Yes, portable cover can be added and sometimes even included for no extra premium on their top level of cover. It’s important to assess your risk tolerance and what items would typically need to be covered away from the home to ensure that you are covered appropriately.
Yes, catastrophe allowances are usually taken into consideration when catastrophic events occur causing delays and increased costs.
Wear and tear is considerable general upkeep of a property and as such isn’t typically covered. This is another good reason why buildings should be inspected and valued regularly to prevent issues like this occurring.
A prestige home insurance policy will typically offer worldwide cover on jewellery items and general contents while you are away from home.
The insurers offer free market appraisals for high valued homes to ensure that they are insured correctly for a true replacement value.
You can however, when you consider the additional benefits and higher limits that are typically included on a standard policy you will end up losing out overall.
Why should you use Priority Insurance Brokers to arrange your Prestige Home Insurance?
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