Home Buying in Apple Valley>Question Details

naythor, Home Buyer in 92308

For insurance purpose, what is the cost to rebuild a home in Apple Valley, CA

Asked by naythor, 92308 Tue Aug 20, 2013

Help the community by answering this question:


When talking to an insurance agent make sure that you get insured for the replacement value for the home. I long time ago an insurance agent tried to sell be insurance for re-purchase value. They are not the same thing.

J.R. Thrasher
0 votes Thank Flag Link Wed Aug 21, 2013
That's a question for an insurance company, and it really depends on the home.

Insurance companies base the replacement cost of a home on several factors - the size of the home, type of construction, features, etc. The larger insurers have huge databases with tons of variables that give them an idea of how much it would cost to rebuild your home if it burned to the ground. When applying for a homeowner's policy, you will give them detailed info on the home. Better yet, provide them with a copy of your appraisal so they have more info to go off of.

I used to work as an insurance agent, and in shopping for insurance, your goal should be to work with your insurance company to determine the proper amount of coverage for your home. Most policies also include a buffer, called "extended dwelling coverage" that tacks on a bonus amount to your coverage amount to account for miscalculations and cost overruns if the unthinkable happens and your home needs to be rebuilt entirely.

Talk to a couple insurance agents,and ask them to explain the differences in detail and how they came up with their figures. Saving $100 bucks is nothing compared to what it might cost you if you pick the wrong insurance company. Hopefully you never need them, but if you do need to file a claim you want them to bend over backwards to help. Pick the agent that you feel most comforable with and who seems the most competent.

Hope this helps!
0 votes Thank Flag Link Tue Aug 20, 2013
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