High Value Home Insurance and HO5 Insurance in OKC, Edmond, Moore, Norman, Choctaw, Shawnee, OK, and the Surrounding Areas
Today’s home values are some that we haven’t seen and couldn’t anticipate. More than ever, your home will be your largest asset that may support your financial future. But if anything were to happen, the repairs, losses, and restorations would be completed in today’s prices. Are you ready for that? Do you want to protect your contents and your home with comprehensive insurance? High-value home insurance is the right choice for many OKC homeowners, including those looking to cover assets within the home.
This is a new technology forward, upmarket homeowners product that is solely marketed through independent agents.
High value home insurance is typically an excellent option for homes valued at $400,000 to $5 million. This is because high value home insurance is a collection of extra services and offerings customized for high home values and particular assets—the benefits include higher coverage limits, additional benefits, and specialized service. When you think about the home values throughout the greater OKC area and the type of assets you have, this might be the better choice for home insurance. Keep in mind that most homeowners insurance does not cover assets such as collectibles, jewelry, guns, antiques, and more. When you consider coverage for these items, the deductible on current homeowners insurance, the costs for any restorations, and more, it starts to look very attractive for learning about the benefits of high value home insurance and similar policies. No matter where you are in the OKC area, we are ready to meet with you to go over your high-value home insurance options. This includes the areas of Edmond, Moore, Norman, Choctaw, and Shawnee.
HO5 Insurance
An HO5 policy is an all-risk policy that includes replacement cost coverage on the housing and contents. An HO5 is like the Rolls Royce of insurance policies. Your stuff is covered on an open perils (rather than a named perils) basis, meaning as long as whatever damage/loss isn’t explicitly excluded in your policy, you’ll be covered. This can be the right option for homeowners with high value homes throughout OKC, Edmond, Moore, Norman, Choctaw, Shawnee, OK, and the surrounding areas.
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The HO5 policy we offer guaranteed replacement of the dwelling on the residence up to $5M. Like all areas of the country, home values in Oklahoma City are rising at 10% a year and are expected to continue to rise. While this gives you an excellent return value on your current home, it can represent some problems regarding repairs and replacing valuables. Repairs are based on the market replacement or restoration value. In a high value market, this means high costs. One of the highest costs could be if you encounter the need for a full roof replacement. However, an HO5 policy can provide a complete roof replacement. This alone could save you thousands of dollars.
If you need home insurance that covers more than traditional policies, contact Ford Insurance today. We will help you find the right insurance coverage to properly protect your home.
