Different Insurance for Luxury Homes!

October 1st, 2008 categories: Honolulu Real Estate 101

$7,499,000 home for sale in Diamond Head area.

Given the number of luxury condos and homes in Honolulu, the way they are insured can have a significant impact on a future claim. Valerie Fitzgerald, of Coldwell Banker in Los Angeles, has an excellent blog post that talks about how a luxury properties should be insured differently that your normal track home.

“It is important for the luxury home to be insured at full replacement value, especially when fine craftsmanship and materials have been used in constructing or improving the home. Schussel said that when Chubb takes on the task of restoring the home to its original condition, they take the task very, very seriously. Restoration could involve flying plasterers in from Ireland to restore a mansion in San Diego or an estate in Connecticut.”
CLICK HERE TO READ THE BLOG POST.

If you own a home in Honolulu that has many specialized finishes and touches, then you may want to visit your insurance policy to be sure they are all appropriately covered.

OTHER POSTS WORTH READING!
Honolulu Rental Rates
Loans For College Condos
The Value Of A Realtor
Realtor Code of Ethics
Determining Offering Prices
Pricing Your Home
Long Term Investment Makes Sense
Schools

This entry was posted on Wednesday, October 1st, 2008 at 6:00 am and is filed under Honolulu Real Estate 101. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.