Most High-Value Home insurance policies are ‘sums insured’ policies, which means these products provide the exact sums insured cover as requested by the client. As a result, the premium is principally driven by the amount of cover required (the sums insured to rebuild the property as brand new). The rebuild value must include debris removal, professional fees, and VAT. A broker or an insurer cannot tell you what rebuild value you need to insure the property for. The good news is that most High-Value Home insurance policies offer a building appraisal free of charge!