Real Estate Blog - Do Insurance Agents Need an Appraisel to Determine Replacement Cost?

Home : Blogs : Simone Bercu, Montgomery Co, MD Real Estate, CRS, GRI, e-PRO, Assoc. Broker : Montgomery County MD Real Estate Blog

Do Insurance Agents Need an Appraisel to Determine Replacement Cost?

I was surprised to get a request for an appraiser or a contractor to provide cost estimates for an insurance agent. The agents I worked with never suggested to me to get them such information.

Is this common practice?

Simone Bercu
CRS, GRI, e-PRO Associate Broker
Bethesda MD Real Estate | Potomac MD Real Estate
Serving Montgomery County Maryland & Washington DC

Visit BercuHomes.Com
Search MLS Listings
Receive New Listings Via Email
Your Home's Current Market Value Online

Posted by Simone Bercu, Montgomery Co, MD Real Estate, CRS, GRI, e-PRO, Assoc. Broker on 07/16/2009 08:13 PM

Comments (2)

Home Insurance With Replacement Cost in the ActiveRain Channel

replacement estimates, home insurance, appraisel for home insurance

This post has been included in Maryland Information

2 Comments on Do Insurance Agents Need an Appraisel to Determine Replacement Cost?

JUL

I've never heard of this happening. I just had to change my coverage due to a half finished addition and they just put the info in their system and it figures out the replacement cost of the home. Maybe they are a small company that doesn't have the technology to easily figure this out? Regardless, the replacement value is rarely ever anywhere near what the value of the home is anyway. The replacement value of mine is $100,000 more than it's current market value...

Chanda panda

JUL

Thanks Chanda. I passed on your comments to my friends.

This blog does not allow anonymous comments