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06Oct 2015

What Celebrities Pay for their Home Insurance

Image courtesy of Chuck Felix/FREEDIGITALPHOTOS.NET

Most of us have watched ‘Cribs’ – the popular show on MTV that gives fans an insider’s look into their favourite celebrities’ homes. Unless you also happen to have a plush mansion in Hollywood, the chances are that you have lusted after these gorgeous, not-so-humble abodes at one stage or another.

But have you ever stopped to wonder just how much money famous folk are forced to fork out for home insurance each year? Let’s investigate.

Beyoncè and Jay-Z

The world’s favourite power couple is known for their love of all things lavish and luxurious, so it comes as no surprise to learn that they own a massive home in Bridgehampton, New York. The stunning house boasts a library, massive walk-in closets, as well as a classic theatre room. It is a known fact that their house is the most expensive one in the Hamptons, and it has been rumoured that the love birds purchased it for approximately $43,500,000. 1 If that number doesn’t make your jaw to drop, their insurance premium will. They pay over $150 000 every year to ensure reliable cover!

Justin Bieber

Justin Bieber used to own a magnificent mansion in southern California – for which he paid approximately $6.5 million. The house has seven bedrooms, eight bathrooms and is estimated to be about 10 000 square feet in size. He has since sold the glorious residence to Khloè Kardashian, but was said to have been paying $500 000 per year for home insurance – due to the high fire risk in the area. We wonder if Khloè Kardashian will be paying the same amount?

Steven Tyler

Steven Tyler is a true rock legend known for his energetic performances and insane vocal ability – which is why it comes as a bit of a shock to learn that the lead singer of Aerosmith actually prefers the quiet life. He owns a beautiful home in New Hampshire that stands right next to a tranquil lake. Due to the flood risk, however, Tyler pays about $1 million each year for effective home insurance cover. Pretty crazy, right?

Matt Damon

Matt Damon owns a number of houses scattered all around the USA – most of which are in very high risk areas in terms of fire and hurricane threats. He owns property in Florida, southern California and New York to name a few. Because of this, it is said that the charismatic movie star pays in excess of $1 million each year to cover all of his residences.

We bet that your home insurance premium isn’t looking too pricey anymore, is it? Even if you’re not paying quite the same amount as the aforementioned celebrities, King Price can still provide you with a more affordable quote. Contact us today for a tailored, no-obligations offer!