[petsetc]

Another insurance thread. I am shopping my homeowners and I have gotten two quotes so far.
From Tower Hill, they say the replacement cost is at $200 sq ft.
From Kin, they say $159 sq ft.

On my 1910 sq ft house, that's a $78,000 spread????

I have google it with little success, so I am wondering if anyone has recently research a per ft cost for home replacement.

Thanks in advance.

[retiredguy123]

It really depends if the policy covers replacement cost or actual cash value. I think most policies are replacement cost policies. If so, the company is required to rebuild your house regardless of what it costs. The cost per square is just an estimate.

[BrianL99]

Originally Posted by petsetc

Another insurance thread. I am shopping my homeowners and I have gotten two quotes so far.
From Tower Hill, they say the replacement cost is at $200 sq ft.
From Kin, they say $159 sq ft.

On my 1910 sq ft house, that's a $78,000 spread????

I have google it with little success, so I am wondering if anyone has recently research a per ft cost for home replacement.

Thanks in advance.

You'd be hard pressed to build a decent home at $200/sq. ft. these days. Admittedly, construction is more expensive in the Northeast, but residential construction there is running $300+ per square foot.

My guess for Florida and a TV type home, would be around $225-$250 sq. ft. TV builds in such volume, they can probably get their cost down around $175-$200 per sq. ft.

[Babubhat]

Originally Posted by petsetc

Another insurance thread. I am shopping my homeowners and I have gotten two quotes so far.
From Tower Hill, they say the replacement cost is at $200 sq ft.
From Kin, they say $159 sq ft.

On my 1910 sq ft house, that's a $78,000 spread????

I have google it with little success, so I am wondering if anyone has recently research a per ft cost for home replacement.

Thanks in advance.

Need more quotes. Try villages insurance, they should be able to give a ballpark figure. Being underinsured would be a claim nightmare

[kkingston57]

Originally Posted by BrianL99

You'd be hard pressed to build a decent home at $200/sq. ft. these days. Admittedly, construction is more expensive in the Northeast, but residential construction there is running $300+ per square foot.

My guess for Florida and a TV type home, would be around $225-$250 sq. ft. TV builds in such volume, they can probably get their cost down around $175-$200 per sq. ft.

TV might build at that cost, but builders used by TV work almost exclusively for TV.

[kkingston57]

Originally Posted by petsetc

Another insurance thread. I am shopping my homeowners and I have gotten two quotes so far.
From Tower Hill, they say the replacement cost is at $200 sq ft.
From Kin, they say $159 sq ft.

On my 1910 sq ft house, that's a $78,000 spread????

I have google it with little success, so I am wondering if anyone has recently research a per ft cost for home replacement.

Thanks in advance.

Re build cost for insurance purposes usually does not include the slab and the below ground plumbing.

[Gatorfan1]

Always purchase the extended replacement cost on dwelling. In the event of a total loss the company will increase your coverage A amount on day of loss (which includes an inflation built in amount) by your replacement cost %. (Example $200,000 with inflation of 6%, $12,000 for the year. If total loss 100 days into policy, that would be around $3,288.00 plus $200,000x 20% R/C would give you $243,947 cost to rebuild amount) I think I did my math right. Haha the thing that most need to remember is the value of your home investment.