Your Home’s Replacement Cost

In this challenging personal lines market, home valuation or the replacement cost of the home is more important than ever… Due to continued rising costs of construction and inflation, many companies are increasing the valuation on your home at renewal. I have had the conversation many times with customers. The important thing to remember is that your home’s replacement cost can vary greatly from the real estate value. Check out the below info from Chubb on how the replacement cost is calculated and why it is different from the real estate value we all tend to think of when determining what is an appropriate limit of insurance on your home. When is the last time you reviewed your limits with your agent???

Chubb – Home Valuation