Hendrickson Insurance
Hendrickson Insurance
Hendrickson Insurance places high-value and high-net-worth home insurance for Sarasota, Florida and the wider Gulf Coast. When a home is worth more than the standard market was built to handle, the coverage has to change with it. That means the HO5 open-perils form and the private-client carriers, Vault, Chubb, and PURE among them, that insure waterfront estates, coastal properties, and homes with significant art, jewelry, and collections. This is a quieter corner of the insurance world, and it rewards an agent who knows your whole picture.
A high-value home is not a larger version of an average home. It is a different risk, and it belongs with carriers and a policy form built for it.
Most homeowners in Florida are written on the HO3 form. It is a solid, familiar contract: it covers your house on an open-perils basis but insures your personal property on a named-perils basis, which means your belongings are only covered when the cause of loss matches a specific list. For an average home, that is usually fine. For a high-value home, it leaves too much to chance.
The HO5 is the premium form, and it is the one high-value and high-net-worth homes are generally written on. It insures both the dwelling and your contents on an open-perils, all-risk basis. A loss is covered unless the policy specifically excludes it, rather than only when it appears on a list. That single change moves the burden of proof off you and onto the language of the exclusions, which is exactly where you want it when the property and the belongings inside it are substantial.
Alongside the broader trigger, an HO5 typically settles personal property at replacement cost rather than actual cash value, carries higher and more flexible limits, and comes with fewer of the built-in restrictions you find on a standard contract. Paired with a private-client carrier, it becomes the foundation for guaranteed replacement cost, blanket valuables coverage, and the high liability limits a high-net-worth household needs.
Open perils on the dwelling, named perils on your contents. Personal property often settled at actual cash value. Practical for an average home, but it asks you to prove a loss fits a list, and it caps the kind of coverage a high-value home depends on.
Open perils on both the dwelling and your contents. Replacement cost on personal property, higher and more flexible limits, and fewer exclusions. A covered loss is anything the policy does not specifically exclude. This is the form built for high-value homes.
A high-value home insurance program is more than a bigger limit. The private-client carriers bundle protections a standard homeowners policy either excludes, sublimits, or never contemplated. Here is what a well-built program brings together.
If a covered total loss costs more to rebuild than your policy limit, guaranteed or extended replacement cost pays to rebuild your home to what it was, without the coverage gap a capped standard policy can leave behind.
After a total loss you may decide not to rebuild, or to build elsewhere. A cash settlement option lets you take the value of the claim and move on, rather than being tied to reconstructing the same home on the same lot.
Jewelry, art, wine, and watches sit far above the sublimits of a standard policy. Blanket and scheduled valuables coverage insures the collections properly, often with agreed value and worldwide protection.
A household with real assets carries real exposure. Private-client programs support high personal liability limits and a personal umbrella that reaches into the millions, well past standard homeowners limits.
Standard flood limits fall short of a high-value home. Excess flood sits above a primary flood policy, while water backup and service-line coverage handle the failures that standard forms exclude or sublimit.
The mechanical and smart systems in a high-value home, from climate to security to pool and generator equipment, are expensive to repair. Equipment breakdown coverage steps in where wear-and-tear exclusions would otherwise leave you exposed.
If you employ household staff, a nanny, housekeeper, estate manager, or grounds crew, private-client programs can arrange workers compensation so an injury on your property does not become a personal liability claim.
Several private-client carriers dispatch loss-prevention crews ahead of a named storm and after it, protecting the home before damage spreads. On the Gulf Coast, that hurricane response is a tangible reason these programs exist.
Appraisals, detailed home inventories, and loss-prevention consulting are built into the relationship. The carrier helps you value the home and its contents correctly, so a claim is settled on facts rather than estimates.
High-net-worth families are targets for fraud, identity theft, and cyber extortion. Private-client programs increasingly add household cyber and fraud coverage that a standard homeowners policy simply does not offer.
A primary residence, a seasonal home, and a rental or two can be structured under one coordinated program, so coverage is consistent and nothing falls between two policies.
Deductibles, loss settlement, and named-storm terms are set for the value and location of the home, not squeezed into a standard template built for an inland tract house.
The most important thing to understand about high-value home insurance is that it is not written by the same carriers who write most homes in Florida. The private-client market is a distinct set of insurers, built from the ground up for high-value homes and the households that own them. They underwrite differently, they service claims differently, and they bring the coverages above together as standard rather than as add-ons.
Which one is right depends on the home, its coastal exposure, its value, its features, and on you. Placing a high-value home with the right carrier is the work. Hendrickson Insurance works directly with Vault, Chubb, and PURE, and has access to the broader high-net-worth market when a home calls for it.
A reciprocal exchange built specifically for successful families, Vault focuses squarely on the high-net-worth home and its owner. Modern underwriting, strong coastal appetite in the right cases, and a member-owned structure make it a carrier we place high-value Gulf Coast homes with regularly.
The name most associated with high-value home insurance. Chubb Masterpiece is a benchmark for guaranteed replacement cost, cash settlement, and claims handling. For estates and substantial homes, Chubb is often the standard other programs are measured against.
Privilege Underwriters Reciprocal Exchange, PURE, is a member-owned insurer designed for high-net-worth families. Known for aligning its interests with its members, strong valuables and liability coverage, and a service model built around the private-client relationship.
One of the original high-net-worth programs, with deep experience insuring large and complex estates, significant collections, and layered liability. Part of the broader private-client market we can reach when a home fits its appetite.
A newer entrant from a highly rated group, Berkley One brings a modern, technology-forward take on high-value home, auto, and valuables coverage. Another option in the high-net-worth market for the right Gulf Coast home.
None of these are the everyday admitted carriers most homeowners are placed with. That is the point. A high-value home placed in the standard market is usually underinsured, on the wrong form, and missing the coverages this page describes.
As a rule of thumb on the Gulf Coast, once a home costs more than about one million dollars to rebuild, the private-client market and the HO5 form usually fit better than a standard policy.
Homes on Longboat Key, Siesta Key, Bird Key, Casey Key, Anna Maria Island, Davis Islands, Snell Isle, and the Gulf beaches, where value, wind, and flood exposure all run high at once.
Households with meaningful jewelry, art, wine, or watch collections that need agreed value and blanket coverage far beyond the sublimits a standard homeowners policy allows.
Owners of a primary residence plus a seasonal or vacation home on the Gulf Coast, who want consistent, coordinated coverage across every property under one relationship.
One agent who knows your whole picture, from the home to the collections to the liability. We take on a limited number of these relationships, and we handle each one personally.
Standard-market homeowners insurance shopped across 30+ Florida carriers, for homes that fit the admitted market.
02 / Related CoverageAll of Florida is a flood zone. Primary flood plus excess flood on top for the value of a high-value home.
03 / Related CoverageHigh-limit liability that sits above your home and auto. Essential for a household with meaningful assets.
04 / Related CoverageHigh-value condominiums on the Gulf Coast use a different form. We place those in the private-client market too.
Start your application, or call 941-952-7991 for a private conversation.