Rebuild cost per Sq. Ft. in the OC

[davenlei]

What is the current average rebuild cost per sq. ft. for replacement of a dwelling due to fire, etc. in the OC (Laguna Niguel)?  I was price shopping for new homeowners insurance and the quote I received from one place was $250 sq. ft for rebuild.  Is this correct?  Based on that price per sq. ft., it is almost the same price I paid for the house (house, land and all).

She actually quoted me closer to $300 a sq. ft. at first and when I told her that is more than what I paid for my house AND land late in 2009, she adjusted it down to $250 sq. ft.

 

[edhne]

I have received build on quotes ranging from $150 to $250 per sqft in the past 12 months but I heard that rebuild is a less per sqft construction wise because less concerns of how to make it work with existing structure. Biggest issue might be the quality of the materials used on interior (bath, kitchen) would make a huge impact on the cost per sqft so hard to do apples to apples.

 

[usctrojancpa]

What is the current average rebuild cost per sq. ft. for replacement of a dwelling due to fire, etc. in the OC (Laguna Niguel)?  I was price shopping for new homeowners insurance and the quote I received from one place was $250 sq. ft for rebuild.  Is this correct?  Based on that price per sq. ft., it is almost the same price I paid for the house (house, land and all).

She actually quoted me closer to $300 a sq. ft. at first and when I told her that is more than what I paid for my house AND land late in 2009, she adjusted it down to $250 sq. ft.

Go through the Costco website and call Ameriprise.  The second option would be Mercury.  The $300/sf for rebuild is way too high.  Should be closer to $150-$200/sf.

 

[davenlei]

I have received build on quotes ranging from $150 to $250 per sqft in the past 12 months but I heard that rebuild is a less per sqft construction wise because less concerns of how to make it work with existing structure. Biggest issue might be the quality of the materials used on interior (bath, kitchen) would make a huge impact on the cost per sqft so hard to do apples to apples.

The previous owners did put quite a bit of money into remodeling the home but the quote she gave me was based on builder spec. materials.  When I told her I had a lot of higher quality materials (granite, SS, flooring, built ins, etc.), she said she may have to go to $350 a Sq. Ft. or more.  I think she was trying to scare me into thinking I was severely under insured. 

Oh and she told me rebuild is much more expensive per sq. ft. than add ons due to the demolition/clean up costs of the existing destroyed structure.  She said with add ons, it is only trucking new materials in so there is little to no demo costs.  Um, yea....

 

 

[davenlei]

What is the current average rebuild cost per sq. ft. for replacement of a dwelling due to fire, etc. in the OC (Laguna Niguel)?  I was price shopping for new homeowners insurance and the quote I received from one place was $250 sq. ft for rebuild.  Is this correct?  Based on that price per sq. ft., it is almost the same price I paid for the house (house, land and all).

She actually quoted me closer to $300 a sq. ft. at first and when I told her that is more than what I paid for my house AND land late in 2009, she adjusted it down to $250 sq. ft.

Go through the Costco website and call Ameriprise.  The second option would be Mercury.  The $300/sf for rebuild is way too high.  Should be closer to $150-$200/sf.

Sounds good.  I will give them a call.

 

[usctrojancpa]

I have received build on quotes ranging from $150 to $250 per sqft in the past 12 months but I heard that rebuild is a less per sqft construction wise because less concerns of how to make it work with existing structure. Biggest issue might be the quality of the materials used on interior (bath, kitchen) would make a huge impact on the cost per sqft so hard to do apples to apples.

The previous owners did put quite a bit of money into remodeling the home but the quote she gave me was based on builder spec. materials.  When I told her I had a lot of higher quality materials (granite, SS, flooring, built ins, etc.), she said she may have to go to $350 a Sq. Ft. or more.  I think she was trying to scare me into thinking I was severely under insured. 

Oh and she told me rebuild is much more expensive per sq. ft. than add ons due to the demolition/clean up costs of the existing destroyed structure.  She said with add ons, it is only trucking new materials in so there is little to no demo costs.  Um, yea....

 

I call BS on her.  Demo costs are the cheapest costs in regards to new construction.  Ameriprise or Mecury should take care of you.

 

[edhne]

I have tried both and I found for me personally, Geico was hundreds cheaper. Ameriprise couldn't touch my personal geico rates and the home owners is originated by Geico but the underwriter is Travelers. Funny but Geico's quote was lower than Traveler's through their own agent and a direct quote. Go figure.

I ended up getting umbrella, home and auto at geico.

 

[davenlei]

I have received build on quotes ranging from $150 to $250 per sqft in the past 12 months but I heard that rebuild is a less per sqft construction wise because less concerns of how to make it work with existing structure. Biggest issue might be the quality of the materials used on interior (bath, kitchen) would make a huge impact on the cost per sqft so hard to do apples to apples.

The previous owners did put quite a bit of money into remodeling the home but the quote she gave me was based on builder spec. materials.  When I told her I had a lot of higher quality materials (granite, SS, flooring, built ins, etc.), she said she may have to go to $350 a Sq. Ft. or more.  I think she was trying to scare me into thinking I was severely under insured. 

Oh and she told me rebuild is much more expensive per sq. ft. than add ons due to the demolition/clean up costs of the existing destroyed structure.  She said with add ons, it is only trucking new materials in so there is little to no demo costs.  Um, yea....

 

I call BS on her.  Demo costs are the cheapest costs in regards to new construction.  Ameriprise or Mecury should take care of you.

I called Ameriprise and gave the 'Costco' code and received a quote.  They quoted a rebuild cost of $217 sq. ft. which is closer to what I was expecting and closer to what my current coverage is but the premium was 200% more than what I am currently paying and actually more than the quote I received from the other company for  more coverage. 
So that makes we wonder if the current company I am with is a 'good' company that will come through if I need them.  The current company I have home insurance with is Balboa which was sub contracted by my actual carrier 21st Century (I have auto with 21st also). 
So I also received quotes for auto and umbrella from Ameriprise and their auto and umbrella rates are really good.  It is making me think about switching those coverages.

Thanks for the tip guys... 

 

[usctrojancpa]

I have received build on quotes ranging from $150 to $250 per sqft in the past 12 months but I heard that rebuild is a less per sqft construction wise because less concerns of how to make it work with existing structure. Biggest issue might be the quality of the materials used on interior (bath, kitchen) would make a huge impact on the cost per sqft so hard to do apples to apples.

The previous owners did put quite a bit of money into remodeling the home but the quote she gave me was based on builder spec. materials.  When I told her I had a lot of higher quality materials (granite, SS, flooring, built ins, etc.), she said she may have to go to $350 a Sq. Ft. or more.  I think she was trying to scare me into thinking I was severely under insured. 

Oh and she told me rebuild is much more expensive per sq. ft. than add ons due to the demolition/clean up costs of the existing destroyed structure.  She said with add ons, it is only trucking new materials in so there is little to no demo costs.  Um, yea....

 

I call BS on her.  Demo costs are the cheapest costs in regards to new construction.  Ameriprise or Mecury should take care of you.

I called Ameriprise and gave the 'Costco' code and received a quote.  They quoted a rebuild cost of $217 sq. ft. which is closer to what I was expecting and closer to what my current coverage is but the premium was 200% more than what I am currently paying and actually more than the quote I received from the other company for  more coverage. 
So that makes we wonder if the current company I am with is a 'good' company that will come through if I need them.  The current company I have home insurance with is Balboa which was sub contracted by my actual carrier 21st Century (I have auto with 21st also). 
So I also received quotes for auto and umbrella from Ameriprise and their auto and umbrella rates are really good.  It is making me think about switching those coverages.

Thanks for the tip guys... 

Interesting, maybe they don't like hilly areas like Laguna Niguel.  Did you try Mercury?