- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
Increasing insurance after addition? How much to add to policy?
Posted on 4/22/25 at 3:22 pm
Posted on 4/22/25 at 3:22 pm
We added on a garage to our home. We have notified our insurance agent and he has asked how much additional coverage do we want to add.
Do we just add the cost the contractor charged us for the build?
Any advice is appreciated. Thanks.
Do we just add the cost the contractor charged us for the build?
Any advice is appreciated. Thanks.
3
Posted on 4/22/25 at 3:42 pm to Fishwater
I would add whatever cost you think you'd incur if you had to rebuild it.
Posted on 4/22/25 at 3:44 pm to Fishwater
quote:
We have notified our insurance agent and he has asked how much additional coverage do we want to add.
Find a new agent ASAP.
quote:
Do we just add the cost the contractor charged us for the build?
The fact that you're here asking this question after you talked to your agent is grounds for reporting your agent to the state department of insurance. 99.9% of the time, your situation calls for a completely updated replacement cost estimate on your home with the new addition. You can't just throw a number at the policy and call it a day because that's a recipe for an underpayment at claim time.
If you don't mind me asking, who is your agent and/or insurer?
Posted on 4/22/25 at 4:48 pm to Fishwater
Is the garage attached to the dwelling? If yes it would be covered under the dwelling coverage. If not attached it will be covered under other structures coverage. Do you need to increase dwelling or other structures limits?
Posted on 4/22/25 at 8:49 pm to TDsngumbo
quote:
The fact that you're here asking this question after you talked to your agent is grounds for reporting your agent to the state department of insurance.
This is super dramatic.
quote:
You can't just throw a number at the policy and call it a day because that's a recipe for an underpayment at claim time.
Sure you can, as long as the number is accurate representation of the cost to rebuild in the event of a loss. Every carrier handles this a little differently, but between your baseline dwelling coverage, other structure/accessory building coverage, and additional coverage percentage, it’s very easy to adjust the limits to make sure you’ve got more than enough coverage in the event of a total loss.
This post was edited on 4/22/25 at 8:50 pm
Posted on 4/23/25 at 7:02 am to TDsngumbo
quote:DOI is going to file that complaint in the trashcan
The fact that you're here asking this question after you talked to your agent is grounds for reporting your agent to the state department of insurance.
quote:Probably, but not definitely. OP never even specified if it was attached or detached. You don’t need a new RCE if its a detached garage.
99.9% of the time, your situation calls for a completely updated replacement cost estimate on your home with the new addition.
quote:
You can't just throw a number at the policy and call it a day because that's a recipe for an underpayment at claim time.
Its ultimately going to be on the carrier’s underwriters on what the minimum amount of additional coverage they’re going to require. But the agent isn’t wrong for asking for the value. He’s not throwing a number out of nowhere…OP literally just paid for the garage construction so he knows what the cost is. If anything, the cost to add the garage to the existing structure is MORE than if it had been built at the same time as the rest of the house.
Posted on 4/23/25 at 8:06 am to Tiger Prawn
quote:
Its ultimately going to be on the carrier’s underwriters on what the minimum amount of additional coverage they’re going to require. But the agent isn’t wrong for asking for the value. He’s not throwing a number out of nowhere…OP literally just paid for the garage construction so he knows what the cost is. If anything, the cost to add the garage to the existing structure is MORE than if it had been built at the same time as the rest of the house.
This. So long as you’re carrying more coverage than the carrier’s minimum required (which you absolutely should be doing), there should be no problem here. Give whatever cost you think it would take to rebuild the addition, or the value-added cost if you want to go that route, communicate to the broker, let him communicate same to the carrier to see how they want to handle, and go about your day. Not a big deal.
Posted on 4/23/25 at 10:07 am to bluemoons
Thanks everyone.
Posted on 4/25/25 at 7:53 am to TDsngumbo
My agent would have come by and assessed and said I’ll get back with you and even took pics for company. I just got my increase due to increased construction cost which I was planning on contacting them to add more coverage anyway.
Page 1 of 1
Popular
Back to top
Follow TigerDroppings for LSU Football News