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Updated about 6 years ago on . Most recent reply

John Harvell's profile image
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John Harvell
  • Investor
  • from Houlton, Maine
  • Member since Oct 11, 2017
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John Harvell's profile image
John Harvell's profile image
John Harvell
  • Investor
  • from Houlton, Maine
  • Member since Oct 11, 2017
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John Harvell
  • Investor
  • Houlton, ME
40
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Insurance

ACV or replacement for MF

John Harvell
  • Investor
  • Houlton, ME
Posted

I just purchased a mix used commercial/residential 4400 square foot building. Do you recommend putting insurance to just cover ACV or replacement? Replacement is looking about 892k for a hefty premium. I can go down to 90%, get about $800k coverage for about 2750/year. ACV would be cheap cheap of course. Thoughts?

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Matt Moylan's profile image
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Matt Moylan
  • Insurance Broker
  • from Kansas City, MO
  • Member since Oct 11, 2017
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Matt Moylan's profile image
Matt Moylan
  • Insurance Broker
  • from Kansas City, MO
  • Member since Oct 11, 2017
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Matt Moylan
  • Insurance Broker
  • Kansas City, MO
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Matt Moylan
  • Insurance Broker
  • Kansas City, MO
Replied

@John Harvell I completely agree with John M.  Replacement cost is going to me more expensive but is worth the extra expense.  Definitely look into a couple different deductible options in addition to other discounts that may be available.  Congrats on your purchase!

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