Let Us Figure It Out


How much do you think you could get someone to pay for a big pile of 40-year-old drywall and two-by-fours? A more realistic question might be: how much do you think you’d have to pay someone to take the pile off your hands?

The materials that make up an already existing home’s innards don’t have much value on their own. Copper piping might fetch a few dollars, but that’s about it. This is why most homeowners insurance policies pay for replacement cost on a home—you wouldn’t be able to afford to rebuild if you received only the depreciated cash value of the materials.

Replacement cost sounds good. But unless you’re a builder, how would you know how much it would take to rebuild your home to the same standard in the event of a total loss?

Typical Homes
Costs can vary quite a bit depending on several factors, including ceiling height, the type of construction, the quality of finishes used and where a lot is situated. For example, the same home would cost more to build on a steep, remote hillside than on a flat piece of easily accessed land. And marble countertops throughout will add up much faster than Formica.

For a typical home, an insurance agent will ask questions about things like materials used and special features, then plug the answers into the insurance company’s calculator, which will come up with a replacement cost. The estimates take into account average local costs for things like construction fees and materials and are fairly accurate for most homeowners.

High-End Homes
If you own a high-end home, though, typical and average won’t cut it; you’ll want a more extensive and specific inventory. The best way to get that is to choose an insurer that specializes in covering distinctive properties. Kelly Klee is pleased to be able to provide quotes from many such companies.

Because these insurers have experience in the high-end market, they know how to value deluxe finishes and unique features like wine cellars, indoor basketball courts and custom home theaters—any room that requires special construction expertise. And because customer satisfaction is a high priority, they offer full or guaranteed replacement-cost policies, which means they will rebuild your home as it was no matter how much that costs. This benefit is especially useful in situations like widespread natural disasters, when demand for services can drive construction pricing up to higher-than-normal levels, leaving those with ordinary replacement-cost policies short on funds.

Kelly Klee agents are all experienced professionals. We’ll make sure that your home’s special features are properly documented to get you accurate quotes. In addition, we’ll review each quote from our insurance partners to confirm that it makes sense and covers all of your needs. If not, we’ll ask for adjustments before we pass it on for your review.

If you own a high-value home, Kelly Klee agents know the right questions to ask to keep you fully protected and able to resume your normal life as soon as possible after an insurance loss. Please contact us at 844-885-1600 or email service@kellyklee.com to get a no-obligation quote on your homeowners policy.

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