Calculating condo dwelling coverage for Bay Area city?
This is always tricky. I'm trying to estimate the walls-in dwelling coverage I need for a condo in the Bay Area (on the peninsula). Per sq. ft. rebuild rates are sky high and climbing of course, but I find it's easiest to use a $/sq ft calculation for this kind of coverage.
For SFH's, I've heard $550/sq ft is a good rule of thumb to estimate dwelling coverage, or 20% of your purchase price. But what about for condos? Any recommendations for a $/sq ft calculation to use as a starting point?
I've found that most insurers and online calculators grossly underestimate the dwelling coverage needed in our crazy hcol areas.