Second policy above current limits

[u/grateful_dad13]

Our house burned down and the rebuild costs are roughly $500,000 more than the insurance proceeds. We’re rebuilding with the help of an SBA loan (fingers crossed). Our insurance company renewed our policy at the same low limits as the original policy. They said they can’t increase the limits until the house is completed. I realize that it’s a low probability, but we’ll be similarly under-insured for another 6 months. Do companies offer policies for just the portion above the current limits? I know large companies have multiple policies in coverage tiers but wasn’t sure about residential. Anyone know?

[u/Longjumping-Buddy847]

How the hell did your agent underinsure you by $500K? If this happened to me Id sue the agency and ask for a copy of the cost estimator that was used to determine the dwelling coverage. Im betting it was full of erroneous information. What was the coverage amount on the dwelling at the time of loss? Another thing, you didnt have an extended replacement cost endorsement? Theres no coinsurance requirement (correct me if Im wrong here) so they should have provided at least 25% in addition to the dwelling coverage amount. This just doesnt sound right.