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: July 7, 2026
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Key Takeaways
The cost of home insurance for high-value homes with $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 |
Home insurance premiums jump 71% between new and older homes. Your home's age plays a major role when dwelling coverage limits sit around $1 million. How much your rate rises by home age varies by insurer, so the cheapest choice for a newer home isn't always the cheapest for an older one.
Best Homeowners Insurance for Newer High-Value Homes
AIG offers the best home insurance for newly constructed homes with $1 million in dwelling coverage, backed by a MoneyGeek score of 4.77 out of 5. Its average premium runs $238 a month. USAA scores higher overall, but coverage is limited to military members, veterans and their immediate families.
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.
AIG and Amica offer the best value among newer high-value homes: both score above 4.75 out of 5, priced at less than half of what Chubb charges. AIG averages $238 per month, Chubb charges $897, a $659 monthly gap that adds up to $7,908 a year. That gap makes insurer choice one of the costliest decisions for a high-value homeowner at this tier. Newer homes see the most competitive pricing. The gap between top and bottom insurers widens for middle-aged and older homes.
How to Get the Right High-Value Home Insurance
Get a professional rebuild cost appraisal before approaching any insurer. Skip the market value and the purchase price; neither reflects what it actually costs to rebuild. Custom finishes, specialized materials and skilled labor push rebuild costs for high-value homes 20% to 40% above market value. The dwelling limit needs to match actual rebuild cost, or the policy needs a guaranteed replacement cost provision.
Ask the insurer how it handles custom or imported materials in a claim, and find out the liability ceiling before you need a personal umbrella policy. Compare quotes from at least three carriers that specialize in this segment; that comparison shows what you'll actually pay.
High-Value Home Insurance: Bottom Line
Standard policies fall short for homes with rebuild costs above $750,000 to $1 million. That gap leaves owners exposed to a six-figure shortfall 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. Start with 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
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.
Most insurers begin writing high-value policies once dwelling rebuild costs pass $750,000 to $1 million, though the threshold varies by insurer. A professional home appraisal establishes your actual rebuild cost. That figure determines your coverage, not the sale price or assessed value.
Older homes carry higher rebuild costs because they often use materials no longer in standard production: plaster walls, custom millwork and old-growth lumber. Masonry work alone requires skilled artisans instead of standard contractors. The average rate for an older high-value home runs 71% higher than for a newer one, per MoneyGeek's analysis. The penalty varies by insurer, from 26% at AIG to 124% at Progressive.
AIG offers the lowest rate for older high-value homes at $301 per month and applies the smallest age penalty among the insurers analyzed, 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%.
Standard policies don't 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 fall well short of your home's actual rebuild cost, depending on local construction cost inflation. Ask your insurer whether the policy includes an automatic inflation adjustment, and find out the annual rate.
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 usually 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 to 60), has no claims in five years, and has good credit. Three home age tiers were evaluated: newer construction, middle-age (approximately 20 to 40 years old), and older construction (pre-1980s).
MoneyGeek scores are calculated on a five-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 produces 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.
Mark holds a B.A. from Boston College and an M.A. in Economics and International Relations from Johns Hopkins University. He started his career in financial risk management at State Street and is also a five-time “Jeopardy!” champion.