Luxury home insurance doesn't really exist. It is basically an identifying term that is used to describe a policy issued for a home with a value greater than $200,000 or higher. Most homes in America are valued at $200,000 or less, making it easier for captive agents. These agents normally work for carriers like State Farm, Progressive, and Allstate, just to name a few. They don't have the resources to insure homes of a much greater value.