The Coverage A amount listed on your policy should be the amount it would take to rebuild your home if it were destroyed. Obviously, this differs from the market value of your property because that figure includes the land your property occupies.
Since property values have begun to decline, consumers may feel their property is over-insured, but the costs to rebuild are independent of current market values. Especially if your home were destroyed in a hurricane, the demand for building materials, labor, transportation, etc., would drive up the cost of rebuilding.
If you feel the Coverage A amount on your home insurance policy is too high or too low, we are happy to run a Replacement Cost Estimator to check. It takes only about 10 minutes. Please call us at 866.786.4613 or e-mail us at info@suninsuranceservices.com if you would like to review your coverage.
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Sun Insurance Services, Inc. is a family-owned and operated insurance agency located in Orlando, Florida. We write with twenty of Florida's most prestigious insurance carriers and offer our clients a broad range of choice and customization for their insurance needs. Find us on the Web at www.suninsuranceservices.com.
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