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Home’s value, replacement cost not interchangeable

By agent, building, claim, code, conditions, contractors, cost, historic, home, homeowner, house, independent, Insurance, labor, loss, market value, materials, older, Personal Insurance, price, reconstruction, registry, replacement cost, sales, savings
market-value-vs-replacement-cost

When shopping for homeowner insurance, you may hear the terms “market value” and “replacement cost” multiple times. It’s important to have a grasp of the difference. They are not interchangeable.

The post Home’s value, replacement cost not interchangeable appeared first on The Cincinnati Insurance Companies blog.

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Do you have adequate homeowner insurance coverage?

By agent, cost, emotional, homeowner, homeowner's, independent, Insurance, money, Personal Insurance, policy, premium, prepare, price, protect, save, saved, savings, total, worst-case
heirloom-ring

When you think of purchasing insurance, you may feel the most important factor is how much money you can save. But when you saved a few dollars on the front end, is that really what you will care about in the event of a total loss?

The post Do you have adequate homeowner insurance coverage? appeared first on The Cincinnati Insurance Companies blog.

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Personal insurance: Trends in construction costs

By age, agent, cost, design, energy-efficient, expense, home, independent, Insurance, labor, market, materials, modular, Personal Insurance, price, quality, rebuild, rebuilding, reconstruct, reconstruction, safety, spending, supplier, supply, techniques, unemployment, value, valued
construction-trend

Reconstruction cost – or replacement cost – is the cost of hiring a contractor to replace your home as it is, using materials and design of the same or similar quality. This amount is not the same as market value, which is the value of comparable homes that have sold in your area. Your home’s current reconstruction cost could be very different from its market value.

The post Personal insurance: Trends in construction costs appeared first on The Cincinnati Insurance Companies blog.

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