Insuring luxury homes can be a real challenge, especially when trying to calculate replacement value for things like architectural artifacts, beloved creaking stairs or even elephant hide wallpaper.

Luxury home insurance wasn’t of that much interest to me–until I read of an appraiser who tried to figure out the replacement value of elephant skin wall coverings in a Seattle manse. That appraiser, James King with the Chubb Group, makes it a practice to thoroughly investigate the luxe and unusual features in Chubb’s insured luxury homes to make sure a realistic replacement value can be assessed.

And sometimes that challenge requires more than a little research.

In the case of the elephant hide wall coverings, King was unable to determine replacement value, especially since the wall covering had been installed at the turn of the century, before elephant hunting restrictions were in existence.

His solution?

Value the replacement as leather wallpaper, a very, very expensive treatment and alternative.

After reading this story, I decided to call the Chubb Insurance Group directly to discover other challenges and solutions involved in insuring luxury homes. Mark Schussell, Chubb Vice President and Public Relations Manager, was kind enough to take my call–and patient enough to answer my many questions.

For starters, insuring luxury homes in the top market tier can be a tricky business because these homes boast not only fine luxury features and extraordinary craftsmanship, but are often finished with rare antique materials.

If a home has old stained glass windows, roof tiles from an antique Tuscan farmhouse, and 100-year-old carved wooden pillars, it might be difficult to settle with a normal insurance company in the event of a loss.

Drive-by appraisals and typical assessments just wouldnt work.

Insuring these properties at replacement value requires a finely-tune appraisal and an insurance company that understands this market. And though several companies work in this specialty, the Chubb Group of Insurance Companies was reported to be insuring 70 percent of the 400 wealthiest people on the Forbes magazine list.

Chubb’s Mark Schussel was more modest, estimating that the number would be at least half of the Forbes 400. Either way, it is an impressive market domination.

It is important for the luxury home to be insured at full replacement value, especially when fine craftsmanship and materials have been used in constructing or improving the home. Schussel said that when Chubb takes on the task of restoring the home to its original condition, they take the task very, very seriously. Restoration could involve flying plasterers in from Ireland to restore a mansionin San Diego or an estate in Connecticut.

And if special Old World tools are needed to complete the job and they are unavailable elsewhere, Chubb will generously pay to have the tools made.

The basis for determining exactly what needs to be replaced or restored within a luxury home in the event of a disaster begins with the initial appraisal. That is where Chubb stands above the rest.

Their experts take extensive photos both inside and out to create a detailed visual record of the home and its surroundings. The appraiser will take measurements, study all elements of the home, and prepare an extensive report outlining all features of the home, down to molding and landscape details. Then, should a calamity occur, there will be a complete record of what needs to be replaced. While assessing the home, the appraiser will also point out things the homeowner may wish to do to reduce the potential for loss.

When one of Chubbs 200 highly-trained appraiser is going through the home to be insured, he or she will additionally point out personal effects art and furnishings that might require separate professional appraisals and insurance. If the client wishes, Chubb will provide the needed separate expert appraisal for insuring those items.

Restoring a home to its original condition can only be done within the confines of current building codes. Chubb replacement coverage may provide not only for Old World craftsmanship, but also for bringing electrical, plumbing and other building defects up to local building codes. Additionally, during reconstruction, Chubb has their people on site to make sure the work is being done to their own strict standards.

And once the work is done, they make sure the owners are satisfied with the results. In one case, the owner missed the familiar creak in his old stairs. It was an idiosyncrasy he missed. Not wanting an unhappy client, Chubb sent their workers in to recreate the old creak.

Mark Schussel said most insurers have moved away from the luxury home replacement policy business. They key reason, he said, is that they do not have Chubbs finely-tuned appraisal services. œBecause of our accurate valuations, we are able to continue this coverage even if a home is insured at $2 million and it takes $4 million to replace, he said. Most of their policies, though, have a built-in replacement cost escalator.

Insuring a luxury home at market value is not an accurate way to insure the property. In a highly-appreciated market, a homeowner might end up paying way too much for the policy, when the home could be restored for less than market value. And in declining markets, the replacement cost for a luxury home could far exceed its market value.

For detailed information regarding the insurance of luxury homes, it might be helpful to explore Chubbs Personal Insurance site.

The post Insuring Luxury Homes appeared first on Luxury Home Digest.

Once upon a time, the lowly shower offered faint competition for the jetted bathtub.

The bathtub was where one went to luxuriate, while the shower was a functional cleanser.

Not any more.

These days the lowly shower is one of the hottest home luxuries in demand. The shower stall might contain a steam shower, a multi-headed storm of warm water, or simply a place to stand under a rainfall of ambient temperature.

More and more, as we tour San Diego luxury homes, we are seeing the shower stall (or room) overtake the once dominant bathtub. And even if the shower stall doesnt have a steam feature, discriminating home buyers will often stand back and scrutinize the possibilities of extending glass walls to the ceiling so that steam features and functionality can be installed.

What are these luxury buyers seeking? They want oversized shower rooms with a tiled seat and multiple shower heads. They also like the possibility of sharing the luxury shower with others.

Hence, dual shower heads are also popular. On busy mornings or playful evenings, it might be necessary, compelling, or just plain fun to shower in toto.

These days, the luxury bathroom is closer to a luxury spa than the tiled bath with sink, toilet and tub of the last century. Owners now want not only the jetted garden tub, but also a high-performance shower system that can deliver calming massage sprays as well as invigorating jets that might awaken the most sleep-starved soul.

And even if a complete shower overhaul is not possible, there are some alternatives and remedies to consider:

1. Consider installing a shower arm extension to raise the shower head. Most older homes assumed that nobody in the home stood over 5² 5³ tall.
2. If you are considering relining the shower stall, consider alternatives to the traditional tile. How about travertine or other stone products?
3. Is it possible to add a second shower head especially if there is a tub and water supply nearby?
4. Be sure to locate shower head products that accommodate your local water pressure. The higher the better.
5. Want a steam shower? When remodeling the bath, this might be an alternative to consider especially if the glass enclosure and door can be brought to the ceiling.

Other luxurious appointments:

The Snoring Room

The Self Service Spa (Do it at home?)

Long-Lasting Roses

Induction-Cooktop for the Luxury Kitchen

Ultimate Phone for the Luxury Bath

How to Hide the Bedroom TV

Switchable Mirror Glass Windows

SONOS: The Ultimate Sound System

Haute Refrigerators for Cool Kitchens?

The Overflowing Infinity Tub

Luxury Wine Storage for Oenophiles

The Illuminated Bathtub

Luxury Design Trends for 2008

The post The Luxury Shower (and 5 Tips on How to Create One) appeared first on Luxury Home Digest.

In our coastal San Diego luxury real estate market, buyers are almost manic about their closets–and especially the ones in the master suite.

Luxury home buyers are most pleased when there are separate closets for each–or if single, closets for the seasons. The compleat closet in the luxury home will be spacious, well lighted and masterfully organized. It is a room where we prepare ourselves to meet the world–or simply the day. The closet holds our clothing, our personal treasures, our shopping triumphs. It’s status in homes has been elevated to be far more than functional storage. People now want to spend real time in their master bedroom closets.

And what are some features they would like to see?

• A staggered hanging carousel for shirts, skirts and jackets.
• A swing rod that comes down and elimates strain from reaching up for hangers–especially in closets with the more prevalent high ceilings.
• Banks of bureau drawers that are fully extendable, and which have super-quiet concealed glides that prevent snaggy contact.
• All shelves are smooth, snag-proof and have vertical dividers that can be adjusted for height.
• A built-in floor or wall safe for valuables.
• A few locking drawers.
• Floor to ceiling mirrors. Natural lighting is often achieved with protected skylights.
• Large spaces for organized shoe storage.
• A dressing bench.
• It is also a plus when laundry facilities are nearby.

Other bonuses and accessories in the luxury home master closet would be rotating show carousels, scarf and tie cellarets, lingerie caches, jewelry inserts, tasteful garment bags, decorative storage boxes, and wicker storage baskets with washable cotton liners.

If your closets come nowhere near this description (and my own do not), the best and first thing you can do (whether you plan to sell or not) is to clear it out and keep only those things that you love–and those which love you by hanging so well on your body. Look at your emptied closet and determine if it needs paint, new rods, shelves, scented shelf paper, or new lighting. Is there room for a mirror? A dressing bench? Might it be organized differently? Is there room to move in a small chest?

(If you follow Feng Shui guidance, this might also be the time to introduce needed elements to the room.)

This closet re-do is one that will yield great benefits to you, whether you intend to sell your home or not. There is nothing that beats the sense of peace and control that comes from having a beautifully organized personal closet that is used day in and day out. And if you are selling your home, it is a feature potential home buyers will appreciate.

The bedroom closet may be a small thing, but is one of the most frequently used spaces in the home.

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