STR replacement cost insurance with increased building costs

[John Underwood]

I just received my Foremost insurance policy for our STR Lake house.

We have replacement cost insurance, but the amount seems low in today's costs to rebuild. Our Lake lot is a good chunk of the value but still I wonder what happens if you have a total loss like a forest fire in the Gatlinburg area. I know some of you went through this.

Anyone else raised the value of the insured amount or would replacement costs still cover you, and it is the insurance company job to keep up with any premium adjustments on a replacement cost policy?

I have a Real Estate Club meeting tonight and my insurance broker is always there. I'll ask him too.

FYI - Avery is virtually speaking to our club tonight (21 March).  We have over 500 members, but we usually have over a hundred in person members and guests.