Our analysis of national insurers showed that the average cost of homeowners insurance for high-value homes is $619 per month for newly-constructed homes. This is for a policy with $1 million in dwelling coverage and a $1,000 deductible. However, we found that if your home is older or historic, home insurance rates can go up to an average of $1,056 per month.
Homeowners Insurance for High-Value Homes
Updated: June 11, 2026
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Key Takeaways
The cost of home insurance for high-value homes looking for $1 million in dwelling coverage is $619 per month, but if your home is older it averages $1,056 per month.
AIG and Amica are the most affordable options for high-value homes, with AIG starting at $238 per month and Amica at $246 per month for newer homes, while USAA leads all insurers with a MoneyGeek Score of 4.90 out of 5 but is available only to military families.
Homeowners of high-value homes should base dwelling coverage limits on the cost to rebuild, not the cost of the home itself.
Average Cost of High-Value Home Insurance
Newer | $619 | $7,430 |
Middle Age | $894 | $10,733 |
Older | $1,056 | $12,675 |
Between new and older homes, we noticed a 71% increase in home insurance premiums. The age of your home is a significant factor when your dwelling coverage limits are around $1 million. How much your rate increases by home age varies by insurer, which means the cheapest choice for a newer home may not be the same for an older one.
Best Homeowners Insurance for Newer High-Value Homes
For newly-constructed homes and $1 million dwelling coverage, AIG is the best home insurance option with a MoneyGeek score of 4.77 out of 5 and averaging $239 per month. While USAA earns the highest MoneyGeek score, it's only available to military members, veterans and their immediate family members.
AIG Insurance | 4.77 | $238 | $2,860 |
USAA* | 4.90 | $306 | $3,677 |
4.76 | $246 | $2,954 | |
CSAA | 4.53 | $320 | $3,839 |
4.52 | $370 | $4,441 | |
4.49 | $364 | $4,365 | |
4.28 | $897 | $10,767 | |
4.25 | $556 | $6,676 | |
4.21 | $419 | $5,032 | |
4.20 | $476 | $5,711 | |
4.19 | $531 | $6,377 | |
American Modern | 3.85 | $518 | $6,220 |
3.85 | $665 | $7,979 | |
3.75 | $784 | $9,406 | |
*USAA is available only to military members, veterans, and their immediate families.
For newer high-value homes, AIG and Amica offer the strongest affordability-to-score ratio: both score above 4.75 out of 5 while pricing at less than half of what Chubb charges. The $659 per month spread between AIG ($238) and Chubb ($897) for the same newer home profile represents $7,908 per year, making insurer selection at this tier one of the highest-dollar decisions a high-value homeowner makes. The newer-home tier is where the most competitive pricing appears; the gap between top and bottom widens much more for middle-aged and older homes.
How to Get the Right High-Value Home Insurance
Before approaching any insurer, get a professional rebuild cost appraisal, not the market value or the purchase price. Rebuild costs for high-value homes frequently exceed market value by 20% to 40% for custom finishes, specialized materials, and skilled labor. The dwelling limit must reflect actual rebuild cost, or a guaranteed replacement cost provision is essential.
When requesting quotes, ask how the insurer handles custom or imported materials in a claim and what the liability ceiling is before a personal umbrella policy becomes necessary. Comparing at least three quotes from carriers that specialize in this segment gives the most accurate picture of what you'll actually pay.
High-Value Home Insurance: Bottom Line
Standard policies don't provide adequate limits for homes with rebuild costs above $750,000 to $1 million, leaving owners exposed to a six-figure gap at claim time. At the older-home tier alone, the spread between the cheapest and most expensive insurer reaches $1,189 per month, a $14,268 annual difference for the same property profile. The most actionable next step is to get a rebuild cost appraisal, then compare quotes from AIG, Amica, and at least one other carrier before choosing.
Home Insurance for High-Value Homes: FAQ
What does high-value home insurance not cover?
High-value home insurance does not cover flood damage, earthquake damage, or maintenance-related losses, which are the same exclusions that apply to standard homeowners policies regardless of how high the dwelling limit is. Even a $1 million dwelling policy will not pay for a basement flood from rising groundwater or a cracked foundation from soil settlement. Homeowners in flood zones need a separate policy through the NFIP or a private carrier, and those in seismically active states need a standalone earthquake policy or endorsement.
At what home value do I need high-value home insurance?
Most insurers begin writing high-value policies when the dwelling rebuild cost exceeds $750,000 to $1 million, though the threshold varies by insurer. A professional home appraisal establishes your actual rebuild cost, which is the figure that matters for coverage purposes, not the sale price or assessed value.
Why is high-value home insurance so much more expensive for older homes?
Older homes carry higher rebuild costs because they often use materials no longer in standard production: plaster walls, custom millwork, old-growth lumber, and masonry requiring skilled artisans rather than standard contractors. My analysis found the average rate for an older high-value home is 71% higher than for a newer one, and the penalty varies by insurer, from 26% at AIG to 124% at Progressive.
Which insurer is best for an older high-value home?
AIG offers the lowest rate for older high-value homes at $301 per month and applies the smallest age penalty in my data, a 26% increase from newer to older. Amica follows at $354 per month with a MoneyGeek Score of 4.74 out of 5. Both are more affordable at the older-home tier than Nationwide, Travelers, or Progressive, which apply age penalties between 81% and 124%.
Does my dwelling limit automatically increase as rebuild costs rise?
Standard policies do not automatically adjust your dwelling limit unless you add an inflation guard endorsement, which increases the limit by a set percentage each year. Without one, a $1 million policy written in 2018 may now cover significantly less than your home's actual rebuild cost, depending on local construction cost inflation. Ask your insurer whether the policy includes an automatic inflation adjustment and what the annual rate is.
Can I add high-value coverage to an existing policy, or do I need a new policy?
You cannot raise a standard HO-3 dwelling limit to cover a high-value home because the underwriting requirements, coverage terms, and policy form are different. Applying for a high-value policy typically requires a home appraisal, a risk inspection, and sometimes an underwriter interview. For homes with rebuild costs above $1 million, a purpose-built policy from AIG, Chubb, or Amica is the more complete solution than a modified standard form.
MoneyGeek analyzed rates from 14 insurers for high-value homes insured at $1 million in dwelling coverage. Rates reflect a 2,500-square-foot single-family home with $500,000 in personal property coverage, $1,000,000 in liability coverage, and a $1,000 deductible. The sample homeowner is middle-aged (41–60), has no claims in five years, and has good credit. Three home age tiers were evaluated: newer construction, middle-age (approximately 20–40 years old), and older construction (pre-1980s). MoneyGeek Scores are calculated on a 5-point scale incorporating affordability, claims satisfaction, financial strength ratings, and coverage breadth. Rates are sourced from national rate filings and represent averages; individual rates will vary based on location, home characteristics, and underwriting factors. Learn more about MoneyGeek's home insurance methodology.
How MoneyGeek Scores Are Calculated
Affordability
Rates sourced from national filings for a standardized high-value home profile at $1 million dwelling coverage. Lower premiums relative to peers earn higher scores.
Customer Satisfaction
Based on J.D. Power homeowners insurance satisfaction studies and NAIC complaint index ratios. Insurers with fewer complaints and higher satisfaction scores rank higher.
Financial Strength
AM Best financial strength ratings are used to assess an insurer's ability to pay claims. Only insurers rated A- or better are included in the high-value home analysis.
Coverage Quality
Evaluated based on availability of guaranteed replacement cost, blanket personal property coverage, high liability limits, and dedicated high-net-worth claims handling.
Rate data and MoneyGeek Scores are reviewed and updated annually. The figures on this page reflect analysis conducted using the most recent available national rate filings. Premium averages may shift as insurers file rate changes with state regulators.
About Mark Fitzpatrick
Mark Fitzpatrick, a Licensed Property and Casualty (P&C) Insurance Producer in Connecticut, is MoneyGeek's resident insurance expert. He has spent nearly a decade analyzing the market, first at LendingTree and now at MoneyGeek, where he has produced original research on hundreds of carriers and millions of rates across auto, home, renters, health and life insurance.
He covers economics and insurance at MoneyGeek, and his work has been featured in The Washington Post, The New York Times and NPR, among other outlets.
Like all MoneyGeek analysts, he draws on independent cost and consumer experience data. No insurance company partnership influences his recommendations.
Fitzpatrick earned his degrees from Johns Hopkins University (M.A. Economics and International Relations) and Boston College (B.A.). He began his career in financial risk management at State Street. He's also a five-time “Jeopardy!” champion.