Are used to to determine the cost to rebuild a house or commercial building in the case it gets completely destroyed by a fire, hurricane or other disaster. To see a sample replacement cost appraisal.
The average price for a residential, replacement cost appraisal is $300 and takes forty eight hours to complete. Since every property is unique or if you have a commercial property, please call 866-533-7173 or fill out the form to your right for a FREE QUOTE!
Most times the price of the cost approach appraisal will pay for itself by lowering your insurance premiums! For example, a insurance company may require a property owner to carry $300,000 of insurance coverage to rebuild the property. In reality it may only cost $200,000 to rebuild. Before the insurance company will lower your required coverage from $300,000 to $200,000 they will ask you to have a Certified Appraiser provide a replacement cost appraisal showing that it will cost $200,000 to rebuild. Therefore, the insurance premiums you will pay for $200,000 worth of coverage will be less than $300,000 you were paying before.
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We seek a replacement cost appraisal for 3-4 commercial wooden buildings in upstate NY.
Two of the units are combination lodging and restaurant buildings. The other two are two story multi-function structures. The buildings’ historical values are not within the scope of the analysis. The purpose is to help determine insurance coverages.
please contact me i need a replacement appraisal for my house which was destroyed by electrical fire the replacement cost from my insurance will not cover the costs. My option now is to invoke the policy. Please advise on the cost of the appraisal.