1. 1866 POINTS
    Paul RothPRO
    Senior Commercial and Annuity Specialist, Freedom Brokers, Marion, Carbondale, Harrisburg IL
    I will, for the first time, disagree with the previous post. There are few companies that actually offer this coverage in my market. Guaranteed issue does cover you in case of catastrophe, and the policy will rebuild the like structure, regardless of temporary current conditions. Often, costs go up with a large calamity, such as a tornado, happen. Labor and materials are scarce, so the prices of them temporarily increase. That puts pressure on the contractor to rebuild your home at the old stated and insuredvalue. Folks, this is not designed to rebuild a chicken coop into the Monticello. It is designed to make you whole even if costs escalate.
    There are some qualifications from the homebuyer. You must insure your home to its Marshall and Swift calculated value upon taking out your policy, and keeping the current pricing updated. In Illinois, and Kentucky, two of the states I cover, there are only two carriers that I know of that offer this coverage.
    Yes, it's real. Yes, you will pay a bit more. No one argues premium when you have a total loss. No one wants to hear that because of a major calamity, there is not enough money to rebuild their home.
    Answered on September 27, 2016
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