Multi-Unit Owners: Insurance question/mix use

[Mario Morales]

What is the "replacement cost" for your building you like to get for your insurance? For example a 3 unit mix use, completely rented, construction type "joisted masonry", maybe $700,000 or so? What other things do you like to put in your insurance or take out? Thanks again community!

[Ivan Tello]

Mario, I would use a number between $200 and $250 a sq ft for the replacement cost based on standard finishes. You of course need to consider the existing finishes and any specific design detail that would push the replacement cost above these numbers. These are just starting points and I would contact your general contractor to assist you with getting true replacement value.