The law of supply and demand can hit a homeowner very hard after a natural disaster.

Construction costs boom when hundreds or even thousands of homeowners must suddenly repair or rebuild their homes. With building materials and experienced construction professionals in high demand, the price you may have to pay if you must rebuild your home may far exceed your homeowner policy’s Coverage A amount.

What to Do

If you own a house: Investigate a homeowners policy that includes a “Guaranteed Replacement Cost” provision. That provision will pay rebuilding costs that are in excess of your policy’s stated Coverage A amount when you rebuild your home to match the destroyed dwelling.

If you own a condominium unit: Investigate a condominium unit owner’s policy that includes an  “Extended Replacement Cost” provision. That provision will pay up to an additional 25% of rebuilding costs that are in excess of your condo policy’s stated Coverage A amount when you rebuild it to match your destroyed unit.

Get Started

Guaranteed Replacement Cost coverage is a rarely available, but very worthwhile coverage. Call us to work with an Electric Insurance Risk Coach to help ensure you have the coverage you need. Our Risk Coaches are licensed insurance professionals who are glad to help you navigate the often-perplexing world of insurance coverage.

What to Do Now

Call us to work with an Electric Insurance Risk Coach to help ensure you have the coverage you need. Our Risk Coaches are licensed insurance professionals who are glad to help you navigate the often-perplexing world of insurance coverage. Call us at 800.227.2757, Monday through Friday, from 7:00 a.m. to 9:30 p.m. ET.

Electric Insurance Company Risk Coaches help you assess your current coverages and exposure to risk based on the information you provide during your discussion with them. The services provided are for informational purposes only and do not create a professional or fiduciary relationship. Incomplete information or a change in your circumstances after your meeting may affect coverage requirements or recommendations.

Product, service, program, credit, and discount availability and limits vary by state. The information provided on this site is provided for informational purposes only and is not a full explanation of products, services or coverage. For more information, please contact Electric Insurance Company at 800.227.2757. If there are discrepancies between the information on this site and the policy, the terms in the policy apply.