“replacement cost is no more than 150% of the value of their policy coverage”
well 150% is still a good chunk of money. A new $1 million house in 4S ranch might have assessed value of buildings in $500k range.
The bigger question is, does 150% really cover what it costs to rebuild, when the house was originally built by a megabuilder like Lennar as part of subdivision containing 200 identical houses (so that Lennar could cut costs), and now it has to be rebuilt by custom contractors?
