Cost Estimator Alternatives
|Effective immediately, the following reconstruction cost estimate methodologies may be used to establish Coverage A values:
Although any of the above valuations are acceptable, completion of the ePAS 360Value® cost estimator is still required to be submitted with the application for coverage. Citizens continues to require that homes be insured for 100 percent of the reconstruction cost.
Market value or real estate appraisals are not acceptable alternative methods for the purposes of establishing reconstruction cost. These valuation methods do not accurately estimate the cost of reconstruction.
Examples of unacceptable market value or loan valuation appraisals for the purposes of establishing reconstruction cost include: