Home InsuranceBudget & Finance

Determining Home Value for Insurance Replacement Coverage

What is the average residential construction cost for a two story brick single family home in NC? I am interested for the purpose of insurance replacement coverage and do not want to be over or under insured.

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By DKSsanders from Pleasant Garden, NC

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Anonymous
August 4, 20100 found this helpful

Your local insurance agent will know that and, if they are a good agent, will visit the home to view firsthand even after you have told them the specifications of your home. You can also call a a couple more agents to ask their opinion by telling them you're shopping around for insurance. Doing that (estimates) will put your mind to rest about accuracy.

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August 4, 20100 found this helpful

This is different for each part of the country, construction style, materials used, natural disaster chances, etc. Your agents in the area can help you, they have to measure the house out, they see the electrical make up, the use of the home. Attached or not garage, town where you reside in, crime rate for burglery, etc.

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Each town has a fire code rating too as well as your house will have. How far from your home is the nearest hydrant? Fire department?
Remember you get credit for alarms for CO2, fire, radon, having extinguishers.
More discount when you have many accounts with the same insurance. Cars, house, etc.

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August 4, 20100 found this helpful

The insurance adjusters should be able to do a home visit and let you know. It should also be stated in your policy that you will receive replacement value in the case of total destruction of your home.

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