How to Determine If You Have Enough Insurance to Rebuild Your Home After a Fire

Posted on by BenchMark Website Design

It is important to review your insurance and confirm that you have enough coverage to rebuild your home at today’s costs.  Many homeowners have not reviewed their coverage in years, and the amount they are allotted to rebuild might be based on outdated construction costs.  Also, new code requirements can increase the costs to rebuild.

Below are general guidelines for determining the cost to rebuild your home after a fire.  These estimates are specific to San Diego County and are based on our firm’s experience helping hundreds of clients recover money to rebuild their homes that were destroyed by fire.

1) Tract homes cost approximately $185-$215 per square foot to rebuild depending on the finishes.  A 2,000 sq. ft. tract home with standard finishes will cost approximately $370,000.00 to rebuild.

2) A custom home rebuild starts at a base price of $250/sq. ft. depending on finishes.  A 2,000 sq. ft. custom home will cost$500,000.00 or more to rebuild.

3) Luxury homes begin at $300-$350 or more per square foot to rebuild.  A 2,000 sq. ft. luxury home will cost upward of $600,000.00 or more to rebuild.