Home Dwelling Coverage Rebuild Cost SQFT Calculator

Budget actual dwelling component areas and independently matched rebuild rates/fixed costs against coverage, not real-estate market price, default local SQFT quote or guaranteed replacement adequacy.

Description

Rebuild cost can be budgeted by component area and matched rates, with independent fixed costs.

Rebuild cost can be budgeted by component area and matched rates, with independent fixed costs. Replacement cost differs from real-estate market value.^{[1, 2]}

The returned values include Component modeled rebuild costs minor, Total modeled dwelling rebuild minor, Signed coverage minus rebuild minor. The How section below explains the calculation, input rules and interpretation.

When to use Home Dwelling Coverage Rebuild Cost SQFT Calculator

Use Home Dwelling Coverage Rebuild Cost SQFT Calculator when you need to evaluate the supplied records under the calculation and evidence rules below. No default local quote, market valuation or replacement-adequacy guarantee is supplied.

Prepare the observed policy, claim or quote evidence and independently verified policy tables. Monetary fields use integer minor units in one currency: for a currency with 100 minor units per major unit, enter 12345 for 123.45. One basis point is 0.01 percentage points, so 10000 basis points represents 100%.

How to use Home Dwelling Coverage Rebuild Cost SQFT Calculator and understand its results

Prepare the observed policy, claim or quote evidence and independently verified policy tables. Monetary fields use integer minor units in one currency: for a currency with 100 minor units per major unit, enter 12345 for 123.45. One basis point is 0.01 percentage points, so 10000 basis points represents 100%.
Enter observedDwellingComponentSquareFeet, callerMatchedRebuildMinorPerSquareFoot, callerIndependentFixedRebuildCostsMinor, callerExistingDwellingCoverageMinor using the field table and calculation rules, then run the tool.
Read componentModeledRebuildCostsMinor, totalModeledDwellingRebuildMinor, signedCoverageMinusRebuildMinor. The explanation below defines the units, signs, ordering and any flags or placeholder values.
If the tool reports an input issue, correct the values and run it again. Apply the stated assumptions when interpreting a successfully returned result.

Input field	Meaning	Value type; see rules below	Requirement
observedDwellingComponentSquareFeet	Observed dwelling component square feet	list of number	Required
callerMatchedRebuildMinorPerSquareFoot	Caller matched rebuild minor per square foot	list of number	Required
callerIndependentFixedRebuildCostsMinor	Caller independent fixed rebuild costs minor	list of number	Required
callerExistingDwellingCoverageMinor	Caller existing dwelling coverage minor	number	Required

Enter aligned nonempty integer component areas 0–1000000 and integer rates 0–10¹², integer fixed costs 0–10¹² and integer coverage 0–10¹². Fixed costs may be empty. Return component costs, safe-integer total and signed coverage margin.

componentCost=areaSqFt×rateMinorPerSqFt; rebuild=sum(componentCosts)+sum(fixedCosts); margin=coverage−rebuild

Units, indexing, boundary conditions and exceptional cases are defined in the calculation rules above.

Output field	Meaning	Value type
componentModeledRebuildCostsMinor	Component modeled rebuild costs minor	list of number
totalModeledDwellingRebuildMinor	Total modeled dwelling rebuild minor	number
signedCoverageMinusRebuildMinor	Signed coverage minus rebuild minor	number

json

{
  "input": {
    "observedDwellingComponentSquareFeet": [
      100,
      200
    ],
    "callerMatchedRebuildMinorPerSquareFoot": [
      2000,
      3000
    ],
    "callerIndependentFixedRebuildCostsMinor": [
      10000
    ],
    "callerExistingDwellingCoverageMinor": 800000
  },
  "output": {
    "componentModeledRebuildCostsMinor": [
      200000,
      600000
    ],
    "totalModeledDwellingRebuildMinor": 810000,
    "signedCoverageMinusRebuildMinor": -10000
  }
}

Limitations and assumptions

No default local quote, market valuation or replacement-adequacy guarantee is supplied.

Numeric inputs, where present, must be finite. Follow the calculation-specific rules for overflow, underflow and exceptional cases. Numeric lists are limited to 10,000 entries; string lists to 128 strings of at most 128 characters each. The rules above may impose smaller limits. Missing required fields, extra fields, wrong value types and violations of the calculation rules are input errors.

Alternative or Complementary methods

Use Ordinance Or Law Upgrade Percent Lookup: Ordinance-upgrade cover can use a percentage sublimit of dwelling coverage. Independently covered cost lines form the demand inventory. For a complementary task, use Contents Inventory Scheduled Property Total Tool: A contents inventory separates scheduled and unscheduled values with evidence. Item-specific schedule limits can be deficient even when total inventory appears adequate.

Further background: Actual cash value and replacement cost coverage.

References

Home Dwelling Coverage Rebuild Cost SQFT Calculator — tool.io
Actual cash value and replacement cost coverage — National Association of Insurance Commissioners

Similar or alternative tools

Ordinance Or Law Upgrade Percent Lookup
Ordinance-upgrade cover can use a percentage sublimit of dwelling coverage. Independently covered cost lines form the demand inventory.
Contents Inventory Scheduled Property Total Tool
A contents inventory separates scheduled and unscheduled values with evidence. Item-specific schedule limits can be deficient even when total inventory appears adequate.