I wonder if I can forgo more costly “Replacement” homeowners insurance for a custom policy that might downsize and/or rebuild a more resilient and climate friendly home. I’m not sure we would need to replace everything.
One thought is that, in some places, the rising cost of building or rebuilding may already have decided that, and your "replacement" coverage may only provide for a downsized home.
I wonder if I can forgo more costly “Replacement” homeowners insurance for a custom policy that might downsize and/or rebuild a more resilient and climate friendly home. I’m not sure we would need to replace everything.
One thought is that, in some places, the rising cost of building or rebuilding may already have decided that, and your "replacement" coverage may only provide for a downsized home.
Smart insurance rate setting would reward fire- and flood-proofing investments with lower rates.
So much useful information as always. Thanks!