The standard homeowner policies offered by most insurance carriers are designed to replace the typical home being built today. A common homeowners policy may be just fine for the average dwelling, but not when you have invested in a home with distinctive or custom features. A "standard preferred" policy is unacceptable for luxury, landmark and historical homes because these policies will rarely provide true replacement cost coverage on the home.

Far too many luxury, landmark and historical property owners make the mistake of insuring their properties with the same personal insurance carrier they have used for years, long before they purchased a landmark, historical or expensive luxury dwelling.