Dwelling (Building coverage)The limit should be based on the Replacement Cost of the building (cost to rebuild withthe same kind and quality excluding the foundation)2.

Trying to get a split level (not a lot of sqft) on the market in the next three weeks and trying to decide on whether to open the wall between the dining and living room for a feel of openness or leave it as I have heard from two interior designers that the open concept is on the way out as we are more at home and liking our separate areas in the home.Pragmatically speaking the opening of the wall will be mostly a time drain with it being a load bearing wall and having to support the ceiling while rebuilding and all the drywalling necessary.

We purchased the land all cash, and financed the rebuild of the community How did you add value to the deal?

They care about what they estimate it would cost to rebuild the home.All else being equal, yes, older homes are more expensive to insure than newer homes for a variety of reasons. 

Rebuilding as was. 

But since you don’t know about the concrete pads how they will settle they have full rebuild coverage.  

Quote from @Argel Algura: Hey Bigger Pockets Community,A year ago I wrote about rebuilding and starting over in life and considering real estate investing as a path (see post here: "Bad credit, minimal cash and starting over in life . . .

The math for investing was pretty obvious to everybody that it would be hard to lose money by buying a home for 50% to 70% of the rebuild cost.

If you choose not to rebuild/replace your settlement would usually be for actual cash value.It's unlikely you can get a settlement for above the coverage amount you paid for.

However, if you sell instead of rebuilding, the IRS may include part of the payout in your taxable gain unless reinvested under the §1033 involuntary conversion rules, which allow you to defer taxes by purchasing a similar property within two years.If the property was your primary residence, you may exclude up to $250K (single) or $500K (married) of gains if you lived there for at least 2 of the last 5 years, likely resulting in no taxes owed.