Florida Home Insurance Term - Florida Homeowners Insurance Term: Get Your Replacement Cost Estimator

Before providing the insurance policy, the insurance company wishes to know the exact and complete replacement costs it will need to pay to the homeowner's insurance policy holder, if the dwelling is completely damaged. The purpose of guaranteed replacement cost estimator is to calculate the exact cost that will be needed to completely rebuild a Florida dwelling in an event of damage. A replacement cost estimator is also termed as a repair cost estimator.

The replacement cost is one factor that is considered by insurance company while determining the premium for your homeowner's insurance policy. Several factors are considered while calculating replacement cost of a dwelling. Some of the important factors are design features and the materials used for construction. A guaranteed replacement cost estimator can provide you with basic estimate as well as detailed estimate depending on quote and policy requirements.

A guaranteed replacement cost estimator has other uses besides determining the complete replacement cost of a dwelling. Builders can use the replacement cost estimator to ascertain the cost to complete a project. Contractors can use it to determine the cost for building when different types of building materials are being used. There are different types of building materials such as current materials, modern building materials (technologically enhanced) and replica materials.

A guaranteed replacement cost estimator uses several factors while calculating the final amount for rebuilding the dwelling. Some of the factors are the square footage or total area, the style of home and the type of the foundation of the dwelling. The replacement cost estimator also adds an additional section in the final calculation, if the dwelling has a basement. A replacement cost estimator also considers the type of flooring finishes, type of building material used in the construction of the exterior walls and the percentage of each type of material used in the construction of house. It also considers the type of roof, number of bathrooms and kitchens in house and if the dwelling has any attached decks. Besides this, the replacement cost estimator also takes into account the number of windows, doors and fireplaces, if any, in the dwelling.

A guaranteed replacement cost estimator is a sophisticated computer program that calculates the actual cost of rebuilding the house based on the data provided. It is a great program to compute the actual cost of rebuilding the house with different types of building materials. In fact guaranteed replacement cost estimator ensures that your house is not undervalued and you can be rest assured that you will receive adequate replacement costs to rebuild your home in case it is completely damaged by any unforeseen peril.