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Home Insurance in 19087 : Real Estate Advice

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  • Home Buying14
  • Home Selling6
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Activity 2
Mon Feb 20, 2012
Richard Varney, Jr answered:
Mary Beth,

Most interesting and no, was not trying to demean anyone here. In fact, I'm most curious about that report you have. If you can click the link to my website, click on the contact form, and send me an e-mail, I'll repy back so I can get that screen grab. Most apprecaited.

The only thing I disagree with you on is where you referred to local builders using "inflated" values. This subject can get quite deep depending on what we're talking about.

For example, if we're talking "standard" types of homes (cookie cutter homes like ranches, colonials, etc...and with no customizations), we here on Long Island definitely use a standard $180 per square foot as the base factor. However, if we're talking about "custom" homes, that changes everything, as we now start looking past claim amounts given a particular ZIP code.

In fact, I can even e-mail you a replacement cost estimator from one of my carriers. It lists reconstruction costs based on ZIP codes using prior claim data...real world costs based on actual losses. You may find this interesting as values for most states & local zip codes are included within.
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Mon Sep 14, 2009
Kathy Brennan answered:
I am an insurance agent in CA not FL. You are not telling us how big the house is? For example if the house is 2000 sq feet and the insurance company calculates cov A at $250.00 sq foot this would give u a replacement cost of $500,000. We never use purchase price which includes the land and location. We say land does not burn, float away and it can not be stolen. Land does burn but it recovers on it's own... Hey it's a saying I was trained to use and I have been an insurance agent for 12 years. You have different insurance concerns in FL than we have in CA but i hope this basic example helps a little. ... more
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