High Value Home Quote Comparison Checklist

This is the working checklist. If you have two or more high value home proposals in front of you and an hour to spend on them, work through it in order with the documents open.

It is deliberately not the strategy page. How to compare high value home insurance quotes owns the strategic question: what order to look at things in, why premium comes last, and how to tell a genuine saving from a transfer of risk back to you that nobody itemized. That is answered there and this page does not re-answer it. Read it first, then come back here and do the work.

Before you start

Do not work from the summary page. Ask each agency for the complete quote with the endorsement schedule and form numbers, the replacement cost estimate behind the dwelling limit with its date and quality grade, the full deductible schedule, the schedule of valuables, the umbrella quote and its underlying schedule, a written list of open subjectivities, and the legal name of the issuing company along with whether it is admitted or surplus lines in your state. If an agency will not produce those, that is information too.

Then build a comparison sheet: one column per quote, one row per item below. The empty cells are where the differences hide.

1. Is the dwelling limit built the same way

Nothing below this line compares until this is settled, because several downstream limits are written as percentages of the dwelling.

• The dwelling limit, and what produced it: an automated estimator, a detailed reconstruction estimate, an inspection, or a construction appraisal
• The date the estimate was run and the quality grade selected
• The square footage used, and whether it matches the house, including finished basements and attached structures
• Whether custom features are reflected: millwork, plaster, stone, timber framing, specialty roofing, imported finishes
• The other structures limit, and whether it reaches the detached garage, shop, fencing, pool and hardscape

If two quotes carry different dwelling limits, stop. Get them onto the same reconstruction number and re quote. Background: dwelling coverage versus market value and how much homeowners insurance do I need.

2. Settlement basis

Three different things get the same name in proposals, and the summary label is not the endorsement. Record which applies, and the form number.

• Replacement cost to the stated limit and no further
• Extended replacement cost, and the size of the extension
• Guaranteed replacement cost, and every condition attached

Then the conditions the broader forms usually carry:

• Must the limit have been set to a carrier approved estimate, and kept current how
• Must you rebuild, and at the same location
• Is there a cash settlement option if you do not rebuild, and at what amount

Then the two modifiers that can explain a price difference on their own:

• A roof settlement schedule paying actual cash value or a depreciated amount past a certain roof age. See roof coverage, replacement cost versus actual cash value
• A cosmetic damage exclusion on roof or siding. See roof age and cosmetic damage exclusion

Extended versus guaranteed replacement cost is the longer read, and replacement cost versus actual cash value covers the underlying distinction.

3. Ordinance or law

What responds when a partial loss triggers code required upgrades to undamaged portions, plus demolition and debris removal of undamaged structure.

• The limit, and whether it is a percentage of the dwelling or a stated amount
• Whether it covers the increased cost of construction, the demolition of the undamaged portion, and the loss in value of the undamaged portion
• Whether it applies to other structures as well as the dwelling
• Whether the limit is additional to the dwelling limit or shared with it

That last item is the one people miss. A limit inside the dwelling limit does very different work than one on top of it. See ordinance or law coverage and the ordinance and law gap on a partial loss.

4. Every deductible, converted to dollars

Fill in every row. Write percentage deductibles as both the percentage and the dollar amount they produce at that quote’s dwelling limit.

Then three checks:

• Is any deductible calculated against the dwelling limit rather than the loss
• Is there a separate deductible per structure, or one per occurrence
• Does a catastrophe deductible appear on one quote and simply not on the other, because the peril is excluded rather than covered

That last check catches a common false comparison: a quote with no wildfire deductible may be the quote not offering the coverage. See home insurance deductibles explained and earthquake insurance deductibles explained.

5. Loss of use, as an amount and a clock

It fails by arithmetic rather than argument: the money or the clock runs out before the house is finished.

• How it is expressed: a percentage of the dwelling, a stated amount, or unlimited
• Whether there is a time cap, how long, and whether the time and dollar caps both apply
• Whether it contemplates comparable housing or the cheapest adequate alternative
• Whether it covers boarding or relocating pets, horses or vehicles
• Whether it covers a civil authority or prohibited access situation such as an evacuation order, and for how long
• Whether it covers fair rental value if any part of the property is rented

Then hold it against a real rebuild timeline for a home of this construction, including permitting, and against what that timeline becomes after a widespread event. See loss of use coverage.

6. Valuables, blanket versus scheduled

The overall personal property limit. Percentage of the dwelling or a stated blanket amount, and replacement cost or actual cash value. If replacement cost required an endorsement, confirm it is actually on the quote.

The internal sub limits. Record each, per quote: jewelry and watches with the separate theft sub limit, fine art and collectibles, silverware, firearms with their theft sub limit, furs, money and securities, wine, business property at the home, and property away from the premises.

Blanket versus scheduled treatment. Some programs write a blanket valuables limit, some require each item scheduled, some do both.

• Which approach each quote uses, and the per item cap inside any blanket limit
• For scheduled items: agreed value or actual value at time of loss
• Worldwide or premises only, and whether a deductible applies
• Breakage and mysterious disappearance
• Automatic coverage for newly acquired items, at what amount and for how many days
• Required appraisals, of what age, for which items

Do the schedules match. If one quote schedules twelve items and the other eight, the premiums are not comparable.

By category: scheduling jewelry and valuables, fine art, wine, watches, firearms, and personal property coverage.

7. Liability, and where the umbrella attaches

On the homeowners policy:

• The personal liability and medical payments limits
• Whether defense costs sit inside or outside the limit
• Whether personal injury coverage, meaning claims such as libel, slander and invasion of privacy, is included or endorsed
• How the form treats rental activity, a pool, a trampoline, a dock, recreational vehicles, and household employees

On the umbrella, get the underlying schedule in writing and confirm it lists every vehicle including any titled to a trust or entity, every residence including seasonal, secondary and out of state, watercraft and recreational vehicles, any rental activity, any household employees, and every named insured including trusts and entities holding title.

Then the umbrella’s own terms:

• The limit, the required underlying limits, and whether the quoted home and auto policies meet them
• Excess uninsured and underinsured motorist coverage: included, optional or unavailable
• Personal injury coverage, and whether defense is in addition to the limit
• The self insured retention for claims with no underlying coverage
• Whether the umbrella and the home policy sit at the same company

An umbrella covers the underlying policies it was written to cover, and only those. See how much umbrella insurance do you need, how much for high net worth households, and how to choose your liability limits.

8. Water, in all of its separate forms

Water is not one coverage. It is four or five, and quotes differ here more than almost anywhere.

• Sudden and accidental discharge from plumbing, and any sub limit
• Water and sewer backup: included or endorsed, at what limit and deductible. See water backup coverage
• Sump pump failure and overflow, sometimes separate from backup
• Hidden seepage, and any limit on how long a leak can have been occurring. See hidden water damage, seepage and mold
• Mold resulting from a covered water loss, and the sub limit, which is often modest
• Flood, excluded on essentially every form. Confirm whether either proposal includes a separate policy
• Any water related condition, such as a required water shutoff device

The boundary between these categories is where most denied water claims live. See flood and earthquake: what home insurance excludes.

9. Service line and equipment breakdown

Inexpensive, frequently omitted, rarely on a summary page.

• Service line: included or endorsed, at what limit and deductible, and whether it reaches the buried water line, sewer line, electrical service and any propane or data line. On a long driveway this matters more than in town. See service line coverage
• Equipment breakdown: included or endorsed, at what limit, and whether it reaches the systems this house has, including geothermal, pumps, generators, elevators, wine storage and home automation. See equipment breakdown coverage

10. Sub limits that differ silently

Caps that rarely appear on a proposal summary and frequently differ between quotes. Ask for each.

• Debris removal, and whether it is additional to the dwelling limit
• Trees, shrubs and lawns with the per item cap, and landscaping and hardscape more broadly
• Refrigerated property and food spoilage
• Credit card, forgery and counterfeit money
• Loss assessment, which matters if the property sits in an association
• Fire department service charge, and lock replacement after a key loss
• Property removed to protect it from loss, and for how long
• Reward or recovery expense for a stolen scheduled item
• Any cyber or fraud coverage, and at what limit. See personal cyber insurance
• Coverage for people employed in the home. See domestic employee insurance

11. Exclusions and conditions in the form

Read the exclusions, not the brochure’s list of what is covered.

• Earth movement, including landslide, subsidence and sinkhole, and whether any is bought back. Earthquake is separate: see earthquake insurance in Oregon and Washington
• Flood and surface water
• Wear, tear, deterioration and latent defect
• Faulty workmanship, design and materials, and the resulting damage wording
• Vermin, insects and animals, including pets
• Vacancy provisions, and how many days trigger them. This matters on any secondary or seasonal home
• Business and rental activity at the residence
• Anything tied to construction. See high value home renovation insurance
• The protective safeguards condition: alarms, sprinklers, shutoff devices, and what happens if one is out of service
• Any wildfire mitigation condition and its deadline. See wildfire home insurance

What homeowners insurance does not cover is the general list.

12. Admitted or surplus lines, and what changes

Record which applies to each quote, then what follows from it.

Admitted. Rates and forms are filed with the state insurance department, the state handles complaints, and policyholders generally have access to the state guaranty fund if the company becomes insolvent, subject to that state’s caps and conditions.

Surplus lines. Guaranty fund access generally does not apply, which is the most important practical difference. State surplus lines taxes and fees are usually added on top of premium, so compare the total cost to bind rather than the quoted premium. Rate and form freedom means the wording can differ substantially from an admitted form and from another surplus lines form. A disclosure has to be signed at binding, and cancellation rules can differ.

This is a tradeoff, not a disqualifier. For a wildfire exposed, remote, or previously nonrenewed property, surplus lines is often the market that will look at the risk. More depth at admitted versus excess and surplus lines. If a nonrenewal is why you are shopping, see high value home nonrenewal and home insurance cancelled in Oregon.

13. The carrier behind the quote

The brand on the proposal and the company carrying the risk can be different, particularly when a managing general agent is involved.

• The exact legal name of the issuing company
• Whether the quote comes from the carrier directly or from an MGA with delegated authority
• The issuing company’s financial strength rating, and from which rating agency
• Who handles claims: the carrier, the MGA, or a third party administrator
• Whether claim handling is assigned or queued, and whether you can select your own contractor
• How long the program has been writing in your state

A rating is a third party opinion about ability to pay claims. Check it for the issuing company, not the program name.

14. Everything that has not happened yet

The step almost everyone skips, and the one that turns a good quote into a bad placement.

• Is the quote subject to an inspection that has not happened, what does it cover, and on what timeline
• Can the carrier change the dwelling limit, add conditions, or withdraw after inspection
• If it produces required repairs, what is the deadline and what happens if the work is not done in time
• Is a roof age or condition requirement outstanding. See high value home roof requirements
• Is a wildfire mitigation or defensible space requirement outstanding
• Is a water shutoff device, alarm, or monitoring service required
• Are appraisals required for any scheduled item, and of what age
• Is proof of prior coverage, a loss history report, or a photo set outstanding
• Is the quote contingent on placing the auto or umbrella with the same company

A quote with open subjectivities is a proposal, not a price. Our high value home inspection page explains how the process runs, and the inspection checklist tells you what to look at first.

Last: the premium, and one more question

Now the number means something, because the inputs behind it are aligned. Compare the total cost to bind, including surplus lines taxes and fees and any membership or subscriber contribution, and compare package structure, since credits for placing the home, autos, valuables and umbrella together change the arithmetic.

Then ask one more question: what would it cost to fix the policy I already have? Correcting the dwelling limit, raising ordinance or law, adding the water and service line coverages, scheduling the items and setting the umbrella properly closes most of the common gaps without changing carriers. Questions before switching home insurance covers the rest.

Where to go from here

For how this market works, read the private client insurance guide. For the structural comparison between the two markets, read standard versus high value home insurance. For what drives the number, read how much does it cost to insure a million dollar home.

If you would rather hand us the proposals than work the list yourself, request a coverage review. We will mark up whatever you have, including a proposal from another agency. If you want us to go to market alongside what you already have, start a quote.