Where Do You Find High-Value Home Insurance Experts?

Our Morison Insurance brokers are high-value home insurance experts.  Let us provide you with a no obligation quote. Think of Morison Insurance as your home insurance concierge. Experience our VIP service and full range of insurance products from dozens of Canada’s most trusted insurance companies.

Our Morison Insurance brokers will begin by getting to know you and your home. We will immediately start working on multiple insurance quotes for you to review. Our brokers will explain important details, review coverage and help you to make informed decisions about your high-value home insurance.  We insure many luxury homes and we are pleased to be trusted advisors in insurance. We offer dozens of discounts.

We also have a full portfolio of insurance products to protect other things in your life - your auto, your business, your recreational items, your seasonal properties, your life and more.  We offer a full suite of insurance services and our award-winning brokerage and brokers will ensure first-class service.

At Morison Insurance, our service is personal.  Every customer has a dedicated broker who looks after their insurance needs. We are not a call center and you are not known only by your policy number. We get to know our customers and we value our relationship with you.


This content is written by our Morison Insurance team. It is provided for general information only. Insurance needs differ from person to person, and this article is therefore not a substitute for professional advice about your individual insurance needs which can be obtained by speaking to one of our brokers.

The Quoting Process For High End Homes:

  • In some situations a home inspection may be required. In these cases, an insurance broker will get insurance-to-value (ITV) details on your home.  ITV is used across Canada to determine the actual cost to replace a home.  Note that this is not the price that someone would pay for your home if it was sold on the market. It is the amount an insurance company would pay to replace your home.

  • All of the high-value home insurance companies noted above – Chubb, Intact, Northbridge, and Aviva - provide a complimentary home appraisal on a high-value home property. The rebuild limit of your home will determine whether a full interior/exterior appraisal will be needed or whether the insurance company requires an exterior appraisal only.

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Is High-Value Home Insurance Right For Me?

High-value home insurance is right for you if your home is of high-value and includes expensive contents and has unique features of custom or heritage.
Homes that have a replacement cost of $750,000 or more are generally considered high-value homes. These include luxury residential properties, or those that are unique such as heritage or custom designed homes that may also include valuable items such as jewellery, art or wine collections valued at over $25,000.
These successful clients have distinctive homes with distinctive insurance protection needs.  High-value homes need customized high-value insurance policies which identify gaps in standard home insurance coverage and provide coverage solutions to meet those needs. Standard insurance that provides "average coverage" won't adequately protect the high end home insurance client or his/her lifestyle properly in a claim.
Insurance companies that provide high end home insurance have consistent standards in terms of available coverage, claims service and, especially, a tailored approach to protecting the assets of high net worth individuals.

What Is The Difference Between Replacement Cost And Appraised Value?

Replacement cost is the amount of money it would cost to replace your home from the ground up if it was devastated by fire, weather events or other perils. Appraised value is an evaluation of a property’s value as deemed by a professional appraiser.  In some instances, the replacement cost and appraised value can be very different.  As an example, a home located in a large city in Ontario could have a replacement cost that is significantly less than the appraised value.  To illustrate, in Toronto, a home could have an appraised value of $1,500,000, where it’s replacement cost is only $750,000.

What Constitutes A High-Value Home?

The definition of what is considered a high-value home differs somewhat from insurance company to insurance company.  Generally, these are homes and condos worth at least $750,000 in replacement cost.

Below are some examples of what a few Canadian insurance companies consider to be high-value residences.

  • At Aviva Insurance, its Ovation program requires a minimum replacement cost of $750,000 for a home or a condo, and $250,000 for tenant’s coverage

  • At Chubb Insurance, its Masterpiece program states there is a minimum replacement cost of $1.5 million for a home or a condo, and $250,000 for tenant’s coverage

  • At Intact Insurance, its Prestige program has a minimum replacement cost of $1 million for a home or a condo, and $250,000 for tenant’s coverage

  • The Northbridge Insurance Onyx program insists on a replacement cost of at least $1 million for a home or a condo, and $250,000 for tenant's coverage

Our independent insurance brokers represent all of these insurance companies and more. We are able to help you with high-value home insurance, coverage and other details to meet your individual needs. We also offer a full suite of insurance products to cover your auto, your business, your recreational items, additional properties and your life. If you bundle several items with one insurance company, you may save with discounts to your insurance premium.

Where Can I Find High-Value Home Insurance?

Our insurance brokers are experts in high-value home insurance.  Your family, your protection, and your home are the VERY important to you. What’s important to you is important to us. Find out more about our products, and services.  Check out our reviews on Google, Facebook and Yellow Pages.

Consider Your Answers To The Following Questions:

  1. Was your home designed by an architect and does it include unique design elements?

  2. Is your home a heritage dwelling?

  3. What is the replacement cost of the home or condo? Is it valued at more than $750,000? Please note that this is replacement cost, which is the cost an insurance company would have to pay to replace it. It is not the price the residence might sell for.

  4. What contents do you have and what contents insurance limits do you require?

  5. Are there special or exclusive items within your high-value home that require higher limits of insurance? This includes items such as wine collections, art, jewelry and others.

If you answered yes to any of the above questions, you may want to contact an insurance broker and ask about high-value home insurance.

How Do I Get A Quote For High-Value Home Insurance?

Four national insurance companies that specialize in unique, high-value home insurance are Chubb Insurance, Intact, Northbridge, and Aviva. Our brokers can get quotes from all of these companies.

High-Value Home Insurance

Your home may well be one of your largest investments both financially and emotionally. You've worked hard for it.  Your professional and financial success have paid off, and you have earned a beautiful home that is one-of-a-kind. Protecting it to its value with the right insurance makes sense.  At this point in your life, high-value home insurance protects not only your luxury home, it protects your success.
And that’s what high-value insurance broker experts are here for. Our goal is to keep you, your home, and your success protected.
Whether your home is a custom dwelling, a chic city residence, a country manor, a heritage dwelling or something in between, an insurance broker will make sure you have high-value home insurance to protect your hard work, your residence and your lifestyle.  With the right home insurance you will swiftly get back to living life the way you enjoyed it before an insured loss.

What Is High-Value Home Insurance?

Bankers & Traders High-value home insurance protects your home to its replacement cost - also known as replacement value - which is the amount of money an insurance company would have to pay to replace it.  This specific insurance includes fine homes, condos and rental properties within its definition. A typical home insurance policy may not be enough to cover a luxury, upscale residence, however, high-value home insurance surpasses a standard home insurance policy by offering additional coverage and higher limits.
High-value home insurance is custom-made to suit your individual needs. Think of it as artisan insurance, hand-crafted or virtuoso insurance which takes into account the higher-than-average value of your building, including special aspects, design features, high-value contents and other unique quality details. It also takes into account valuable and prized possessions or collections you may have.

Are There High-Value Home Insurance Discounts Available?

Yes, high-value home insurance discounts are available.  Discounts offered by insurance companies are also offered for high-value home insurance policies.
The amount and availability of discounts varies depending on the insurance company. Insurance brokers will help you to get all of the discounts you qualify for. In some cases, the savings can be significant.
Discounts offered by insurance companies are also offered for high-value home insurance policies. Note that there are discounts for extra security and protection measures you may have in places such as full-time caretakers and 24-hour alarm protection.

How Much Does High-Value Home Insurance Cost?

High-value home insurance policies are usually more expensive than standard home insurance policies because they provide more coverage.

Providing even a ballpark price for high-value home insurance could be misleading because there are many factors to consider when the price of a high-value home insurance policy is determined.


We would be pleased to provide you with a price once we know the details of your residence.  Our insurance brokers will ask you about your home and will get you several competitive insurance quotes.

Key Features Of Bankers & Traders High-Value Home Insurance:

  • The coverages, deductibles and premiums are custom crafted to your needs and lifestyle

  • You receive specialized claims service by insurance company, adjuster and contractors that understand your lifestyle

  • Ability to increase coverage for furniture, electronics and other valuable contents beyond the insured value of the dwelling

  • Unlimited coverage limits are available in case you have to live elsewhere while repairs are completed for an insured loss

  • Increased personal liability limits are available for eligible clientele (limits in excess of $50M) 

  • Mechanical breakdown coverage is available for critical home components (i.e pumps, compressors, a/c units, etc)

  • Identity theft and fraud coverage is available

  • Water protection coverage options are available for perils including sewer backup, overland water and ground water

  • Coverage is available for valuable collectables / memorabilia

  • Insurance options are available for kidnap, ransom, blackmail, car-jacking, etc.

  • Personal Legal Expense coverage is available

  • Worldwide coverage is available (for eligible clients) for renting automobiles outside of North America

  • Ability to insure high value jewelry and fine arts without having to acquire appraisals

Why Traditional Homeowners Insurance Policies May Not Be Enough

Traditional mass market homeowners insurance may not provide adequate coverage or service for high-value homes. In the event of a loss, be certain your property is returned back to the state it was prior to the loss using similar quality materials and craftsmanship your are accustomed to. More specifically, standard home insurance policies contain restrictive  limits that are likely not sufficient for these high-value residences. For example, fine art, rugs, jewelry, wine, or other special items, standard home insurance typically offer limits that are inadequate. Standard home insurance policies usually limit the coverage on items such as jewelry to $6,000 for all items. If you own jewelry with an aggregate limit in excess of $6,000 you may want to consider high-value home insurance.


Is The Claims Service Different With High-Value Home Insurance?

High-value home insurance policies are designed to meet the needs of property owners that are accustomed to the finer  things in life.  Whether it be imported hardwoods, smooth granite surfaces, custom tailored textiles or made-to-order furniture, having a high-value claims specialist handing your claim is key to the best client experience.