How can I calculate the replacement cost of my home for insurance purposes?

Free Insurance Quote Comparison

 Secured with SHA-256 Encryption

Jeffrey Johnson is a legal writer with a focus on personal injury. He has worked on personal injury and sovereign immunity litigation in addition to experience in family, estate, and criminal law. He earned a J.D. from the University of Baltimore and has worked in legal offices and non-profits in Maryland, Texas, and North Carolina. He has also earned an MFA in screenwriting from Chapman Univer...

Full Bio →

Written by

UPDATED: Aug 5, 2013

Advertiser Disclosure

It’s all about you. We want to help you make the right legal decisions.

We strive to help you make confident insurance and legal decisions. Finding trusted and reliable insurance quotes and legal advice should be easy. This doesn’t influence our content. Our opinions are our own.

Editorial Guidelines: We are a free online resource for anyone interested in learning more about legal topics and insurance. Our goal is to be an objective, third-party resource for everything legal and insurance related. We update our site regularly, and all content is reviewed by experts.

Insurance Question from Fairfax Station, VA

Asked on 08/05/2013

How can I calculate the replacement cost of my home for insurance purposes? Is there a web site avaliable where I can obtain a rough estimate of the replacement cost of my home?

Answer given on August 14, 2013

There are a variety of ways to determine the replacement cost of your home. You can contact local contractors and ask what they would charge, per square foot, to rebuild your home. Make sure the estimate they give you is based on a one house build, and not if they were building a subdivision. One off building is more expensive than a group of homes.Another way is to contact your insurance company. Most insurance companies have formulas to determine rebuilding costs or they hire outside companies to determine replacement costs of homes. Some of the formulas used are on the low side of rebuilding costs, so if your insurance agent will give you a cost per square foot that they or the insurance company uses, ask for that. It is usually much more accurate a figure than the computer programs that many companies use.In any event, you should make sure your insurance company offers a replacement cost coverage that includes a percentage above the insured amount, in case the figures they are using are too low. This gives you extra protection in the event of a total loss.

IMPORTANT NOTICE: These answers are for general information purposes only and are provided by the person answering and AS IS. It has not necessarily been reviewed by the management staff of nor is it binding any insurance agent, broker, or other insurance professional or any attorney or insurance company. Insurance laws, regulations and practices vary from state to state and insurance policies and practices differ from company to company, by type of policy, by state and locality and by type of insurance. Tiny variations in the facts, policy language or a detail not set forth in a question often can change the outcome or a professional's conclusion. Although has confirmed that the answer(s) was/were provided for the account of an experienced insurance professional, that professional may not be licensed in the state referred to in the question, and may not be experienced or up to date in the subject area. Unlike the answers provided here, upon which you should NOT rely, for personal advice you can rely upon we suggest you consult a licensed insurance professional in your area or retain a licensed attorney listed on to represent you.

Free Insurance Quote Comparison

Enter your ZIP code below to compare cheap insurance rates.

 Secured with SHA-256 Encryption