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What is Extended Replacement Cost?

When considering optional coverages on your Burleson Home Insurance, one of the first line items mentioned in Extended Replacement Cost. But what exactly is it and what does it do? Here's a quick video to explain!

As you can see in the video, extended replacement cost is included in your policy to make sure that your home can be rebuilt in the event of a total loss even if the cost exceeds the estimate used in the dwelling amount. This coverage is present on your home policy because the cost of construction can fluctuate based on market conditions. We've seen this post tornado, post hurricane, or post major hail events. The demand for goods and services goes up and the supply stays flat or decreases as large areas are trying to rebuild. When that happens, the dwelling amount on your home policy may not be enough to fully rebuild your home in a total loss. This coverage is typically described as a percentage of the dwelling amount from 10% to 50%. This will protect you and will work to get your life back where it belongs.

Extended-Replacement-Cost

If you are not sure if your Burleson home insurance policy has an adequate amount of Extended Replacement Cost coverage, Insurance For Texans would love to help you find out! To review what your policy does or does not have, schedule a time to talk with Insurance For Texans today! As an independent insurance agent, we have many options to accomplish a package of coverage that is perfect for you and your pocket book.

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