Rebuild Cost in Philadelphia

[Maureen Campbell]

We were just on the phone with our insurance company and discovered that they had many of the property characteristics wrong on a house that we own. The result is that we will likely need to pay a few extra hundred dollars per month due to the errors they had in their system.

My question is, what is a reasonable rebuild cost for a single family row home in Philadelphia with mid-grade finishes? The square footage is 2,565 but it is a pretty standard 3 story brick row home from the 1930's with an attached wall on one side and an alley on the other. I don't want to be under-insured, but their initial estimate was $750k to rebuild which seems extremely high to me, since that shouldn't include the land value.

We have another property in NJ, about an hour away that is about 500sqft smaller, but with additional exterior decks and a pitched roof with a rebuild cost estimated closer to $350K.

Any help or suggestions would be greatly appreciated!

[Lana Lee]

We had the same issue with insurance company. I think they know all about the property, just using that excuse to increase the premium.