Home Safety | Risk Coach Resources

Protect Yourself from Post-Disaster Pricing

The law of supply and demand can hit a homeowner very hard after a natural disaster. Construction costs boom when hundreds or even thousands of homeowners must suddenly repair or rebuild their homes. With building materials and experienced construction professionals in high demand, the price you may have to pay if you must rebuild your home may far exceed your homeowner policy’s Coverage A amount. 

What To Do

If you own a house: Investigate a homeowners policy that includes a “Guaranteed Replacement Cost” provision. That provision will pay rebuilding costs that are in excess of your policy’s stated Coverage A amount when you rebuild your home to match the destroyed dwelling.

If you own a condominium unit: Investigate a condominium unit owner’s policy that includes an  “Extended Replacement Cost” provision. That provision will pay up to an additional 25% of rebuilding costs that are in excess of your condo policy’s stated Coverage A amount when you rebuild it to match your destroyed unit.

Get Started

Guaranteed Replacement Cost coverage is a rarely available, but very worthwhile coverage. Call us to work with an Electric Insurance Risk Coach to help ensure you have the coverage you need. Our Risk Coaches are licensed insurance professionals who are glad to help you navigate the often-perplexing world of insurance coverage. Call us at 800.227.8211, Monday through Friday, from 7:00 a.m. to 9:30 p.m. ET. You can also visit the RiskCoachTool.com for a personalized insurance risk assessment.

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