Home Insurance Tulsa | Rebuild Costs
Yo, Yo, welcome back to the new podcast, ensure you Oklahoma today, brought to you by mercury insurance and a plus rated insurance company for financial strength. Have great great prices on a home insurance calsa. Combine that with their auto insurance and you’ll get great phrase in your Home Insurance Salsa for your closing, or if you just write a check or rate. Anyway, mercury insurance. We have home insurance, auto insurance, business, auto and umbrella policies, Darfur from this fine fine company. So thank you today to mercury insurance officers of today’s podcast. Today we’re going to talk about home insurance, Oklahoma and what’s the difference between a starter home, let’s say between 50 and $250,000 and those that are maybe a half a million dollars or more up to say $2 million dollars. And how should they be insured differently? Home Insurance Tulsa Well, your agent, your professional insurance agent and ensure you Oklahoma, knows that if you ever started her home, you probably have a lot of builder’s grade a countertops and cover and flooring in there and there’s nothing wrong with that.
This was very nice. Not Cheap, but it’s also not high end customer, so he knows that to insure that house, it might cost you $100 a square foot to replace that uptivity and $120 a square foot. And so that’s all the insurance have carry denver replaced. If there’d be a total loss, God prevent uh, Home Insurance Tulsa and no. But what about the house? Maybe 500,000 and up to a million and a half. We’ll oftentimes, these will have custom kitchen, custom bathrooms, custom floor, and those are just going to cost more. When you have custom cabinetry, it can be very expensive and very nice. And so that’s probably gonna start at a under $50. A square foot might be as high as $200 a square foot for a night out. So that means a, a 4,000 square foot house should probably be insured for about $800,000. A difficult customer because it’s just gonna cost that much to replace it.
Now you’re going to get in trouble for not having enough insurance on your Home Insurance Tulsa, because of it has to be insured for at least 90 percent of replacement cost and it’s only covered 70 percent of replacement cost. Then you’re going to be replaced, it’s going to be prorated and you’re going to get 70 percent of the replacement car. Well Hell, you might as well add actual cash value at that point and your deductible applied, but as long as your house is insured for at least 90 percent of what it costs to replace it, then you will get your house replaced at a total loss or even a personal loss. You don’t have replacement cost coverage and no replacement cost coverage is important because you want new for old. You are your overall for places the new rub. You want to hear old windows replaced with new and knows you want a new house.
That’s where you’re ensuring that our sport so new for old and you’re a professional insurance agent and ensure you Oklahoma, it’s going to make sure that your home insurance call center is covered for replacement cars. Have to rebuild it. Now you could say, yeah, it costs $800,000, but the house is only worth $700,000. Well, the insurance companies actually don’t care what the market value is because they’re insuring the building, not your ability to sell the house and they want to make sure that they can rebuild it. If you have a house, there would be, oh, let’s say a half a million dollars to replace it and rebuilding it, but it’s only worth $400,000 and you only insure it for 400,000 the market value. Well then that’s all you’re going to get. When it comes time for a claim, your claim will be reduced by 20 percent because it’s only 80 percent covered and subject to deductible.
Or if you have a total loss and it would cost 500 or replace it for your own insurance before under, Home Insurance Tulsa guess who gets to pay the other 100,000 plus the deductible? That’s right. You do so when it comes to home insurance, if you’re not with the right insurance professional down there and sure you Oklahoma, you’re not getting the right coverage. If you don’t have the right coverage, why bother having the insurance, um, you also in ever situation where if you cost you an extra $100,000 to replace your home, you might have to take out another mortgage to do that with your mortgage company or they might just take house from me. If you can’t afford to do that, it’s very important to your home insurance salsa. It’s properly covered for replacement cost coverage. What it costs to rebuild, that’s not what it’s worth. So when you sit down with your professional insurance agent, give him a call at nine.
One, eight, three, two, two, seven, one, zero, zero. Ensure you, Oklahoma. All they do is ensure you Oklahoma. So home insurance policies is usually very, very important because your home is usually the most expensive investment you’ll ever make and it makes sense to insure something of high value properly. The ideal covered insurance coverage is something that damage doesn’t happen very often, but when it does, it would wipe you out. That’s why you want to ensure that you don’t want first dollar coverage. You might not even want the first thousand dollars of coverage of verse $2,500 coverage or maybe the first $5,000 to comfort. Now we’re talking about a deductible of course was how much your deductible can you afford. Another way to look at this, how much responsibility do you want to take for your own home? If it’s 2,500 or $5,000, the insurance companies going issue that policy quickly, they’re going to be happy.
They’re going to like you as an insurer and you’re going to like them as an insurance company because you’re not going to get big rate increases. You’re not getting all these thing, other problems. They like responsible people who say, you know what, Hey, I’ll take some of those risks for myself. I don’t need the insurance company and take all that. And they, uh, they liked that. They liked sharing risk and not taking all of that, you know, you can have, you can take all the risk and not insured. If you don’t have a mortgage, no one forces you to have home insurance, like the state makes you have auto insurance. But if you have a mortgage and the mortgage company is going to require that you have home insurance, Tulsa, uh, and also if, if it is, um, if your house is paid off and you don’t have a mortgage, company is still a big meatball hanging out there that you can be responsible for.
If there is a total loss. And by Golly, the last thing you want is when a tornado bearing down on your house to wish you an insurance man, that would hurt, that would be awful. So ensure you Oklahoma professional, long term experience insurance agent. These guys combined have over a quarter of a decade of insurance experience. They’ve seen it all. So when it comes to home insurance, Tulsa called the boys down there and ensure you Oklahoma. Now you one, a three, two, two, seven, one, zero, zero. You’re not just going to get what you need. You’re going to get what you want. You’re going to get the coverage. So when there’s a claim, there’s no surprises. Home Insurance Tulsa Your homes are very, very, very valuable asset. Don’t let it go. Make sure you have the right coverage. Doesn’t make sense to once a year, sit down with your professional insurance agent. You’re professional insurance agent will have the.
We’ll have the mine and the sure have you like a servant? He will take care of you as one. That’s what good leaders do. That’s what good agents do. They are servants to you. They made sure that your home insurance, Tulsa is the right coverage. If it’s not the right coverage, he’s going to tell yourself he’s going to recommend what you do. Now, he’s not going to try to sell you that coverage if you don’t want it. That’s up to you. He’s in the education business and he’s gonna. Home Insurance Tulsa Make recommendations. You’re going to make the decision not going to take it personal which way you go, but he wants to make sure that you’re informed. Any kind of insurance, what you have, so home insurance call center, probably the most important policy you’re going to buy on your own or even for your car. I mean your your car.
If you have a $70,000 car and it gets stolen, it’s not covered out. That might hurt, but nothing like a quarter of a million or a half million dollar house is going to hurt if gets burned or if I nedo and imagine isn’t covered. So for professional insurance coverage for professional good home insurance, Home Insurance Tulsa also, not cheap but valuable. Call your boys down there and I’m sure you will call me nine. One eight, three, two, two, seven, one zero, zero. Next time we’re going to talk about different kinds of home foundation and a structural, uh, costs and building materials. Until then, have a great afternoon.