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Please be an educated buyer. Otherwise, you could end up with insufficient Insurance coverage to rebuild your California home!
California Home Rebuild Cost
California is a complicated place to buy homeowners insurance. Every home, every zip code, every insured individual needs to be systematically assessed, by an experienced insurance agent, before placing a home policy in force. Because that’s the only way to make sure there is sufficient coverage for home replacement. Since the number one mistake in buying homeowners insurance is not understanding what insured to full replacement value actually means, let’s look at what California Home Rebuild costs means.
Let’s start with the basics, when it comes to rebuild cost, you are insuring the structure(s), not the actual land. So you are not trying to match your home’s value for replacement, just what it takes to rebuild your home. Consequently, you can use the table below, that is based solely on the square footage of your home, to get an idea of what your dwelling replacement cost coverage should be. So start by taking the Total Square Footage of your home and locate the corresponding Price to Rebuild per Square Foot. Then simply multiply the Total Square Footage of your home by the Price to Rebuild shown on the table.
| Home Total Square Footage | Price to Rebuild per Square Foot |
|---|---|
| 1,000 – 2,000 | $225 – $250 and up |
| 2,001 – 3,500 | $275 and up |
| 3,501 – 4,000 | $300 and up |
| 4,001 – 4,500 | $325 and up |
| 4,501 – 5,000 | $350 and up |
| 5,001 and over | $400 and up |
Example – If your home is approximately 3,000 square feet: 3,000sqf x $275/sqf = $825, 000 dwelling replacement cost.
Note: Rebuilding cost vary from state to state and region to region, so ask us if you are seeking homeowners insurance outside of California. We can provide prices in other states so that you can accurately assess the cost for your area.
Zip Code’s Direct Affect on Rebuild Costs
Your zip code can have a direct affect on your rebuild costs. So these rebuild cost estimates should be looked at as a starting point for evaluating your insurance needs. But be aware if you are significantly below these numbers and live in California. Because in that case, you should definitely have a discussion about reviewing your coverage’s ability to meet your likely current rebuild costs. Labor, materials and available contractors are in high demand and have increased exponentially so be diligent about reassessing your home owners policy coverages. Likewise, be an educated buyer, otherwise you could end up with insufficient coverage and no home to go back to if a total loss occurs.
If you have any questions about typical home rebuild costs, please don’t hesitate to contact Chris at (619) 980-7263. He will be happy to help you determine the proper level of home insurance to ensure adequate coverage for rebuilding in the event of a loss.
