How To Calculate Replacement Cost For Homeowners Insurance? 
Unlike many people think , most appraisals include market value and not replacement cost . For instance , a property in Detroit may cost $ 1 on the market , but the replacement cost of the house will be something like $ 200 per square foot . Every insurance agent who offers HO policy should have access to a special professional tool . Using this tool you can submit your property info , such as quality grade -LRB- economy , standard , premium , designer , custom -RRB- . Economy grade cabinets are , for instance , counted as $ 75 per cabinet , and custom may cost you as much as $ 500 per cabinet , or even more . So using this tool you can estimate the replacement cost of your property . 