U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > U.S. Forums > New York > Long Island
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
 
Old 08-08-2016, 08:39 AM
 
122 posts, read 131,402 times
Reputation: 39

Advertisements

Hi Guys,

How to get home insurance replacement cost for home insurance ? Do I need to hire replacement cost appraiser or try a online website like 360value. What is the cost to hire an appraiser?

Any inputs??
Quick reply to this message

 
Old 08-08-2016, 10:33 AM
 
545 posts, read 981,640 times
Reputation: 933
Your insurance agent has the tools to calculate replacement cost.

Also, don't forget that you do not have to insure the land your house is on, so a 500,000 home may only cost 350,000 to replace as the land may be the other 150,000.
Quick reply to this message
 
Old 08-08-2016, 12:09 PM
 
122 posts, read 131,402 times
Reputation: 39
Thanks Peabodyn
Quick reply to this message
 
Old 08-09-2016, 07:17 PM
 
Location: Long Island
8,012 posts, read 10,183,649 times
Reputation: 4255
Our dwelling (replacement cost) is about 75% of the home value if we sold today. Is this about in line with you guys?

This dwelling figure goes up every year, raising our premium, but we simply asked to keep it the same as previous years and they allowed it. Figure there's some overestimation in there to start.
Quick reply to this message
 
Old 08-11-2016, 08:41 PM
 
8 posts, read 3,173 times
Reputation: 11
Brokers have tools to estimate the replacement cost and Insurance carriers conduct an inspection of your home to evaluate the replacement cost.

Coverage increases every year due to the inflation factor built in to the policy contract which states that you need to stay 100% insured to value.
Quick reply to this message
 
Old 08-11-2016, 09:48 PM
 
Location: Former LI'er Now a Rehoboth Beach Bunny
6,605 posts, read 8,302,241 times
Reputation: 5877
Of course the land is land and will not go anywhere if the home were a total loss.
Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


 
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Options
X
Data:
Loading data...
Based on 2000-2013 data
Loading data...

123
Hide US histogram

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > U.S. Forums > New York > Long Island

All times are GMT -6.

2005-2017, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32 - Top