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Proper dwelling insurance coverage for condo for studs out (by sq ft?)
Posted on 5/2/22 at 11:00 am
Posted on 5/2/22 at 11:00 am
I'm reviewing my insurance for a condo and the recommended dwelling coverage seems very low at only $80/ sq ft total coverage? Talking to a builder he recommended $200 sq ft for coverage?
As in, that's the cost to rebuild the inside from the studs out? Most likely talking major storm here so prices will be inflated. Don't mind being slightly uninsured with some risk, but currently seems very low?
As in, that's the cost to rebuild the inside from the studs out? Most likely talking major storm here so prices will be inflated. Don't mind being slightly uninsured with some risk, but currently seems very low?
4
Posted on 5/2/22 at 12:41 pm to baldona
I think mine is in that range for the Florida panhandle. Hell Sheetrock and flooring shouldn’t be $200 a square no matter the demand on labor.
I think it is Florida law that all insurance policies cover up to $5000 in storm related assessments but you can get higher coverage fairly cheap
If you rent it make sure you have rental loss insurance in there too. It is pennies in the grand scheme of things.
I think it is Florida law that all insurance policies cover up to $5000 in storm related assessments but you can get higher coverage fairly cheap
If you rent it make sure you have rental loss insurance in there too. It is pennies in the grand scheme of things.
Posted on 5/2/22 at 12:53 pm to baldona
Studs out is insulation, drywall, paint, flooring, cabinets, and trim and finishes, plus I assume HVAC, electrical, and plumbing.
Make sure the policy does not require a storm-related opening to cover water damage from windblown rain.
Make sure the policy does not require a storm-related opening to cover water damage from windblown rain.
Posted on 5/2/22 at 2:00 pm to baldona
Do you mean "studs in", meaning the inside finishes only? Most Condo's cover the rough carpentry, you only need to cover finished carpentry, paints, cabinets, floors.
Posted on 5/2/22 at 2:19 pm to Skippy1013
quote:
Do you mean "studs in",
This. Studs out is usually covered in the HOA with the owner responsible for studs in.
Studs out is a red card in soccer.
Posted on 5/2/22 at 9:49 pm to Skippy1013
quote:
Do you mean "studs in", meaning the inside finishes only? Most Condo's cover the rough carpentry, you only need to cover finished carpentry, paints, cabinets, floors.
I guess? Ha. No idea the term, clearly. I figured it was studs out like outside of the studs. But I guess studs in means inside of the house?
Either way, we’d be talking all flooring, carpentry, cabinets, appliances, and tile/ bathroom/ stub out plumbing work and materials. Just to do to a decent bathroom ‘studs in’ is a considerable cost not to mention a nice master or nice kitchen?
Seems like $200/ sq ft seems a lot more reasonable then?
Posted on 5/3/22 at 4:31 pm to baldona
It's going to depend on quality. $80/SF may cover rebuilding 'studs in' with basic/spec grade finishes and fixtures. If your place is nicely upgraded, it could cost to $200/sf to rebuild inside.
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