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__________________________ Address of Property: ______________________________ ______________________________________________ Current Mailing Address:__________________________ Insured Name: _________________________________ Occ/Employer: _________________________________ SSN: _________________________________________ DOB: _________________________________________ Lawyer’s Name__________________________________ Phone: _______________ Fax: _____________ Current Contact Phone Number: __________.

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How to fill out the Home Replacement Cost Evaluation Form online

Completing the Home Replacement Cost Evaluation Form online can ensure that your property is accurately assessed for insurance purposes. This guide will provide you with step-by-step instructions to make the process straightforward and user-friendly.

Follow the steps to successfully complete the form online.

  1. Click ‘Get Form’ button to access the Home Replacement Cost Evaluation Form and open it in your preferred online editor.
  2. Begin by entering the insured name and occupation/employer details. You will also need to provide your Social Security Number (SSN) and date of birth (DOB). Make sure this information is accurate, as it is important for identification purposes.
  3. Fill in the address of the property you are evaluating, including the current mailing address if it differs from the property address. Correct details ensure effective communication.
  4. Complete the section for your lawyer’s name and contact details if applicable. If you do not have legal representation, this can be left blank.
  5. Enter the date of closing and the purchase price of the property in the appropriate fields. Indicate the amount of land associated with the property to give context to the evaluation.
  6. For dwelling information, specify the year your home was built and select the type of dwelling, such as single-family or multi-family. Determine the style of your home from the provided options.
  7. Input the total square footage of the finished living area. If you are unsure, complete the room count section as outlined in the form. Count each type of room, from bedrooms to utility rooms, and total them as required.
  8. Indicate whether your home has a basement and the percentage of that area that is finished. If it does not, provide the type of foundation instead.
  9. Proceed to describe the exterior walls, roof type, and any additional features present in the home, such as skylights or bay windows, by filling in the corresponding percentages or counts.
  10. Detail kitchen and bathroom amenities, including the number of fixtures and quality of materials, ensuring to check your choices carefully.
  11. Continue outlining the interior finishes, ceiling, and flooring details by marking the appropriate percentages of each material used.
  12. Specify the heating type and if you have central air conditioning. Highlight any secondary heating sources, fireplace types, and vacuum systems where applicable.
  13. If your home has a garage, deck, breezeway, or porch, fill in the size and type accordingly.
  14. Complete the section regarding home updates or renovations if your dwelling is older than 25 years, alongside any additional comments, such as business operations on the property.
  15. Finally, provide information on any claims made in the past three years and indicate if you are interested in special coverage for contents.
  16. After completing the form, review all entries for accuracy. Once done, you can save changes, download, print, or share the form as needed.

Start filling out the Home Replacement Cost Evaluation Form online today to ensure your property is properly evaluated.

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Reconstruction cost value is the cost to replace or rebuild a home to original or like standards at current material and labor costs within a certain geographical area. Meanwhile, a home's market value is the price a consumer is willing to pay for the home.

What is the difference between market value and replacement cost? Homeowners often confuse market value with replacement cost. The market value of your home is the price you would get for your home on the real estate market, which includes the land. Replacement cost covers the cost to rebuild and does not include land.

A Reconstruction Cost Estimate (RCE) is a figure that insurance companies use to estimate the cost of rebuilding your home in the case it gets completely destroyed.

Replacement Costs Example If a company bought a machine for $1,000 five years ago, and the value of the asset today, less depreciation, is $300 dollars, then the book value of the asset is $300. However, the cost to replace that machine at current market prices may be $1,500.

How do I calculate the replacement cost value of my home? A quick method to estimate the replacement cost of your home is to multiply the square footage of your home by the average cost per square foot in your area.

The easiest way to calculate the replacement cost is to estimate the local cost per square foot to build a home by your home's square footage. So, if your local contractors charge an average of $150 per square foot, and your home is 2,000 square feet, the RCV for your home would be $300,000 (150 x 2,000 = 300,000).

A replacement cost estimator is a tool your home insurance company uses to determine approximately how much it would cost to rebuild your home in a worst-case scenario where it gets destroyed completely.

Hire a licensed appraiser or contractor Hire a local contractor or appraiser who is qualified in replacement cost estimates. They will likely conduct an inspection of both the inside and outside of your home and take note of everything that would go into a full rebuild.

Simply put, the appraised value helps determine the price of a home when it goes on the market, the assessed value determines municipal property tax, and the replacement cost is what it would cost to rebuild a home in the event of a catastrophic loss. Replacement cost is the amount covered by homeowners insurance.

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