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The Top 6 Most Expensive Celebrity Home Insurance Premiums

Highest Celebrity Home Insurance Premiums

MTV Cribs may justify illegal downloads, but it doesn’t show how much celebs pay in home insurance. That’s why they need you to buy their album and/or DVD. Not known for their reservation, celebrity home insurance premiums are as ridiculous as the homes themselves. While they like to believe they’re a cut above the rest, they’re still obliged to the same underwriting principles as the rest of us.

In other words, being celebrities doesn’t make them any less of a risk. Home insurance premiums are evaluated based on the size of the home, the cost to rebuild, and the likelihood of perils. Those perils that can destroy a home: floods, fire, earthquakes, subsidence (or landslides) and other natural disasters. It just so happens that celebs also buy homes in high-risk areas.

Top 6 Most Expensive Celebrity Home Insurance Premiums

These are the most expensive celebrity home and contents insurance policies out there:

6. Gwyneth Paltrow’s Home

The little abode she shares with Chris Martin costs, on average, $350,000 (R2.9 million) a year in home insurance. Why? In the centre of London, they might not be at risk for earthquakes or landslides, but it does put them at risk for break-ins and vandalism.

5. Matt Damon’s Place

The Bourne Identity star owns a number of homes. One in LA, New York, and Florida. Which one has the most expensive home insurance premiums? Florida. Costing about $450,000 (R3.7 million) in home insurance premiums a year, the shack is at risk for those quaint Florida hurricanes.

4. Leonardo DiCaprio’s House

Leo’s home may be beautiful with those floor-to-ceiling windows, but it means his home insurance premiums cost about $475,000 (R3,9 million) a year. The home is built in an area that experiences a lot of earthquakes, which may not see the home come tumbling down, but definitely the windows.

3. Justin Bieber’s Plac

The Biebz is on fire, and he pays $500,000 (R4.1 million) in home insurance premiums a year to cover the costs if his home ever is too. The sheer size of the home and its location in fire-central Southern California, means high premiums.

2. Ellen DeGeneres’ Home

The talk show host and American Idol judge pays up to $750,000 (R6.1 million) in home insurance premiums a year because of the risk of fire and earthquakes. The size of the place accounts for a lot of the risk.

1. Steven Tyler’s Place

His band might be aerodynamic, but his home insurance isn’t. Paying up to $1 million (R8.2 million) in premiums a year, Tyler’s lake-side mansion is at a very high risk for flooding.

Do your home insurance premiums make you feel like a celebrity? Get a range of insurance quotes to compare and you might find something cheaper. Fill in our online form and an insurance representative will call you with quotes.

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