Tearing down and rebuilding would be sort of like doubling down on a "bad" investment.

Wait until you need to muck out a place and rebuild after a hurricane.

They offer month-to-month cancelation, instead of minimum 6-12 months, also they provide coverage for actual cash value instead of full rebuild value. 

The benefits to using an RCV policy are that it would pay to fully rebuild your property in the event of a total loss.

This means that even if your insurance company rebuilds your property, there may not be anyone available to rent it.

What is total cost to rebuild?

There is a huge community of investors only buying large apartment buildings to either renovate and make luxury apartments or they are rebuilding to make more singular homes depending on the size of the land.

I'd say best investment now is still the best parcel in land that's below market relative to location, and the house that sits on it(that's below the cost of rebuilding). 

This isn't personal, it’s not based on a claim you may or may have not had, it’s simply the cost of doing business.The cost to rebuild your home is up dramatically due to the rising cost of materials and labor.

Plus the rebuild of PV Mall just adds potential appreciation in the future (but not banking on that alone).