Replacement cost is the amount it costs to rebuild a home or structure.  This amount can also include demolition.  This value can be significantly different than an appraisal.  Reason being, the cost of materials to rebuild can outweigh a home or structure’s market value.  When insuring a home or structure the insurance company needs to know the replacement cost.  There are tools that our agents use to help approximate this value.

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articles from Highland Park Insurance

Latest Articles From Highland Park Insurance