When insuring a home, there are several options to choose from when it comes to the “Dwelling” coverage: Actual Cash Value, Replacement Cost, Extended Replacement Cost, and Guaranteed Replacement Cost. The better of the four is “Guaranteed Replacement Cost”. The coverage is meant to provide all the coverage needed to rebuild/replace the home, regardless of policy limits, depreciation, or construction costs. This is a highly valuable coverage to insured’s who want to know there will no issues with coverage to rebuild their home in the event of a serious or total loss.
Bottom line: Many companies don’t offer “Guaranteed Replacement Cost”. When seeking coverage proposals, be sure to request “Guaranteed Replacement Cost”! Raymond Preston & Reed represents several companies who offer this coverage.
If you have any questions for me, please let me know
Ryan P. White
Raymond Preston & Reed, LLC
6 Cadillac Drive - Suite 100
Brentwood, TN 37027
The Ashton Real Estate Group of RE/MAX Advantage
The #1 Real Estate Team in Tennessee and #2 RE/MAX team in the World!