Quote:
Originally Posted by batman911
We are building a Lantana and will close in March. I have obtained home insurance quote from several companies and agencies. The price difference range is about $500 between the highest to lowest quote. One of the differences I noticed is the dollar amount for total replacement cost coverage. The highest is $384K and the lowest is $279K. Needless to say the annual cost of the policy is affected by this number. The $279 figure came from ASI through USAA. Even though there is an inflation protection increase yearly, I am concerned with having sufficient coverage should it be needed. Can any other Lantana owners provide a ball park figure of the replacement value on their home insurance policy? I know it will be a little different due to installed pools, expansions, location but just a base figure and if you have a pool or GC garage or not. Thanks in advance for any assistance provided.
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ASI knows The Villages very well. If yours is a frame Lantana, that $279K number seems OK. Remember, that number covers only the total replacement of the house--not your lot, the birdcage, lanai, driveway, or the contents, which is covered separately.
If yours is a standard sized Lanatana, about 2,050 square feet, that $279K number amounts to $136 per square foot, which seems to be a pretty accurate and generous allowance to me. $384K would mean an allowance of $187 per square foot, an excessive replacement cost allowance in my judgement.
Given the choices you cited, I'd go with ASI.