Philippines Building Costs
Realtors Philippines building costs recently reported that the median sales price of existing single-family homes in the United States increased 15% between April 2004 and April 2005.
The percentage increase is substantially higher in areas where demand is great and land is scarce. Examples include (at the end of the first quarter of 2005): San Bernadino, California (32.6%); Las Vegas (29.4%); Miami, Florida (28.4%); Sarasota, Florida (36%). Building costs Philippines building costs have climbed sharply in the first five years of the new millennium, fueled by increases in the prices of virtually all building materials, notably lumber, brick, concrete block, steel and plumbing.
The challenge for agents, brokers Philippines building costs and companies is clear. Dwelling coverage limits must be reviewed and adjusted upward at renewal time. Contact with the insured is an essential part of the process because a substantial premium increase warrants explanation so the insured understands what must be done to assure rebuilding, however severe the damage might be.
Dwelling Coverage A under homeowners Philippines building costs policies written for single-family dwellings provides for replacement cost if the limit of insurance has been fixed at, generally, 80% or more of the replacement cost of the damaged building. Otherwise, adjustment will be made on an actual cash value basis. In light of the escalating cost of building materials and skyrocketing property values, special steps must be taken to make certain that out-of-pocket rebuilding expenses paid by insureds are limited to applicable deductibles.
A relatively new consideration is the increased cost of rebuilding Philippines building costs with materials and procedures required by a governing building code. These code regulations have proliferated in numerous communities and counties and, in some cases, are applicable statewide. As the provisions vary from area to area, it is essential to be aware of the requirements for the location in which covered property is situated.
For more info about Philippines building costs;
(For Manila and surrounding) American Design Construction#92 Ordoņez St. corner Maroon St.Concepcion Dos, Marikina City |
(For Cebu, Bohol, Negros, Leyte) ET & p Design & Construction #888 Katugasan, Casili Consolacion, Cebu |
(For Baguio and surrounding) RA Gacoscos Construction #99 Greenwater Village Baguio City, Philippines See website |
(For Davao / Mindanao) Raul G. Anuada (Realtor & Civil Engineer) Unit 162, 16/F Landco PDCP Corporate Center J.P. Laureal Ave., Bajada Davao City |
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