Enough to rebuild the home, which is a different figure from its market value and usually from the purchase price. Market value reflects land, location, and what a buyer would pay, none of which describes what construction would cost. A reconstruction cost estimate, based on the actual construction, materials, and finishes rather than a square-foot average, is what the limit should follow. Because that estimate depends on the specific property, review your individual needs with a licensed agent or qualified advisor rather than relying on a general figure.
Related FAQs
No. The FAIR Plan is a separate insurer of last resort. We help clients obtain FAIR Plan coverage and pair it with a DIC policy, but we represent you, not ...
No. Both are excluded from standard California homeowners policies and are written separately. Earthquake is bought as its own policy or endorsement, and the deductible is typically a percentage ...
Fire, including wildfire, is typically covered under a standard homeowners policy. In high-risk areas where standard coverage is limited, a FAIR Plan and DIC combination may be used. ...
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