Insuring a luxury $2 million residential property typically costs anywhere from $6,000 to over $15,000 per year, depending heavily on architectural details, custom finishes, geographic risk, and the inclusion of high-value contents coverage. High-net-worth insurance carriers like Chubb, PURE, or Cincinnati Insurance often provide specialized policy tiers for multi-million-dollar dwellings that feature guaranteed replacement cost settlements and comprehensive worldwide liability protections.
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