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.