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controlling losses.
Risk Management

Replacement Cost Analysis - Manhattan & Westchester County, Fairfield, CT, and New Jersey

When insuring a home or a business property, it’s critical that you determine accurate and up-to-date values that reflect the cost to repair or replace an asset in the event of a loss, such as fire or in the event of a natural disaster. This applies to both the physical property and the contents inside – your personal possessions in your home and contents at your business. A.J. Benet is committed to providing an insurance program that accurately reflects the values of our customers’ property with our Replacement Cost Analaysis.

We offer a replacement cost analysis on our customers’ property, because, frankly, we know that without one, chances are high that the amounts on the policy will not be indicative of what is needed to repair or replace a property with like and kind materials at today’s market prices.

In fact, in a study conducted by a national insurance company, 84% of respondents say they likely have insufficient coverage to rebuild a home after a total loss. Another study in 2009 estimated that 69% of American homes are undervalued for the purpose of insurance by an average of 19%. This can be even worse for high net worth clients who own luxury properties.

A replacement cost analysis for a home, for example, will take into consideration architectural details and craftsmanship or unique building materials, such as upgraded bathrooms or kitchens (and cabinets), finished or partially finished basement, and additional rooms or living space. It will also assess things like custom molding or arched windows and other unique features found in homes in neighborhoods throughout Westchester County, NY, Fairfield County, CT, and New Jersey that influence how much replacement cost coverage you need.

At A.J. Benet, we also conduct periodic reviews so that listed values on your property insurance continue to reflect current cost for replacement and/or repair.

We’ll help you understand why replacement cost is so important.

We invite you to give us a call at your convenience at (888) 639-4560, or if you prefer email us or return the form on this page for a review of your insurance needs.

Since 1964, A.J. Benet has been serving businesses in New York City, Pelham Manor, Pelham, New Rochelle, Larchmont, Mamaroneck, Harrison, Rye, Port Chester, Rye Brook, South Salem, Purchase, White Plains, Scarsdale, Eastchester, Bronxville, Armonk, Chappaqua, Briarcliff, Pound Ridge, Bedford, Mt. Kisco, and Katonah, New York; as well as in the Connecticut communities of Greenwich, Cos Cob, Riverside, Stamford, Darien, Rowayton, Fairfield, Westport, Southport, and New Canaan.