Actual cash value may not cover
the total rebuilding cost and your out - of - pocket expenses can quickly balloon to an unreasonable number.
Not exact matches
In
total the foundation has worked with nearly 50 New Orleans schools and organizations, providing $ 300,000 to New Orleans Outreach for after - school assistance; $ 127,550 to the New Orleans Recreation Department to help with initial
costs in the restoration of Pontchartrain Park; $ 78,000 to Best Buddies Louisiana, which facilitates one - to - one friendships for adults with intellectual disabilities; and $ 74,000 to the Greater New Orleans
Rebuild Child Care Collaborative, to restore child - care facilities lost to Katrina.
The
total cost of
rebuilding LaGuardia Airport will be in the ballpark of $ 7 billion, and according to Gov. Andrew Cuomo, that's a small...
The
total cost of
rebuilding LaGuardia Airport will be in the ballpark of $ 7 billion, and according to Gov. Andrew Cuomo, that's a small price to pay to shed an oft - repeated comparison to a Third World Country.
The replacement
cost is what it would
cost to
rebuild the structure from the ground up on a cleared lot in the event of a
total loss.
With guaranteed replacement coverage, if your property is deemed a
total or near
total loss, you will receive whatever amount it
costs to
rebuild or restore your home.
«
Total replacement» policies have a lower risk of underinsurance because the insurer agrees to either
rebuild your building to the standard it was in before it was damaged or destroyed, or pay you the assessed
cost to
rebuild.
It might take some time to receive the funds under a «
total replacement» policy if you suffer a
total loss, as the insurer will need to conduct a full assessment to work out the
cost of
rebuilding your home.
One of the benefits of a standard homeowners policy is that in the case of a
total loss of the home, the policy will pay the full replacement
cost to
rebuild the home.
The amount your home is insured for is what it would
cost to
rebuild it in the event you had a
total loss, including the
cost to tear down the destroyed structure.
Included with a Road and Residence policy, home replacement covers the full
cost of repairing or
rebuilding your house after a
total loss, even if it exceeds your policy limit.
Many contractors who can do most replacements themselves or who have bought a building for very cheap and not interested in
rebuilding upon a
total loss may not want a Replacement
Cost policy.
Replacement
cost plus is an extra level of protection that can provide additional coverage to
rebuild your home after a
total loss.
Therefore, the
total home value you use as a guideline for insurance should be the
cost of
rebuilding your home plus the
cost of replacing the contents in it.
For a quick estimate on the amount to
rebuild your home: multiply the local building
costs per square foot by the
total square footage of your house.
Tips for Insuring Your Home to Value You should insure your home for the
total amount it would
cost to
rebuild your home if it were destroyed.
If a fire or other accident leaves your home a «
total loss,» this coverage provides for the
cost of replacing your home at its current value,
rebuilding to code, and Ordinance & Law.
Homeowners insurance covers your property, and can help cover the
costs to
rebuild after a partial or
total loss (like a natural disaster, fire, or other covered damage).
Depending on how long you had to wait while your home is being
rebuilt or repaired, the
total cost could really add up.
Full Replacement
Cost: Pays the full cost to rebuild your home if it is a total loss up to 125 % of your coverage lim
Cost: Pays the full
cost to rebuild your home if it is a total loss up to 125 % of your coverage lim
cost to
rebuild your home if it is a
total loss up to 125 % of your coverage limits.
The replacement
cost is what it would
cost to
rebuild the structure from the ground up on a cleared lot in the event of a
total loss.