All homeowners should insure their houses against common perils. It’s especially important for homeowners with expensive homes to fully insure their houses, though. If you own a house in Burlington, Vermont that can be expensive. Here are four reasons to purchase a high value home insurance policy that provides you with robust protection.
If You Have an Expensive House in Burlington, VT, Here’s Why You Should Get High Value Home Insurance
1. Your Home is a Target
First, just by being expensive, your home is a target for burglars. While burglars might choose to break into and rob any house, ones that are large and valuable are particularly attractive targets. They can be more likely than less-expensive homes to have valuable items inside.
Thus, just by owning an expensive home, you’re making yourself a potential target for a burglary. This isn’t a reason to not buy an expensive home, but it is a reason to make sure your home and personal possessions are fully insured.
2. No One’s Home When You’re Traveling
Second, if you own a home that’s worth insuring with a high value home insurance policy, you likely also have money to travel. Traveling can also make your home more attractive to burglars, as it’s less risky to break into a house when no one’s home.
Of course, you can protect your home while you’re traveling by hiring a house sitter or installing a security system. Even with these safeguards in place, however, you should still make sure your home’s fully insured in case there is still a break-in while you’re away.
3. Areas of Your Property May Be Out of View
Third, if you have one of the larger houses in the Burlington area, some parts of your property might be blocked from view. Fences, secondary structures, and even the trees that make Vermont beautiful can prevent you from easily seeing certain sections of the land you own.
These areas that you can’t see are likely at greater risk of being vandalized, because a vandal could damage your property while hidden from view. A home security system can help reduce the risk of vandalism, but it can’t fully eliminate all potential risk. Therefore, you should make sure your home insurance policy includes coverage against vandalism. Most high value policies do.
4. Your Home Makes You a Target for Lawsuits
Finally, owning an expensive home makes you a target for lawsuits. Should you ever cause harm or injury to a person or organization, they may seek to sue you for damages. In theory, everyone faces this risk. You're at greater risk of being sued if you have an expensive home and other valuable assets, though, because you’re better able to pay a large settlement if a suit is successful. Someone who has few or no assets may not be able to pay a big settlement, even if a suit against them is successful.
Many high value policies offer protection against an array of potential lawsuits in the form of general liability coverage. This coverage can often be used to pay for both the legal defense of and the settlement associated with a lawsuit that’s filed against you.
Get a High Value Home Insurance Policy from a Burlington Agent
If you own an expensive home, don’t leave yourself exposed to these risks. Ask your neighbors, assuming they also have expensive homes, if they can recommend a local, independent insurance agent. Such an agent will be familiar with the risks you, as the owner of a valuable property in Burlington, face, and they’ll be able to help you find a high value home insurance policy that has coverages for theft, vandalism and liability lawsuits.
This material is for informational purposes only. All statements herein are subject to the provision, exclusions and conditions of the applicable policy. For an actual description of all coverages, terms and conditions, refer to the insurance policy.
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