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Apr 23, 2024
6:12
:28
am
SouthernBlueBlood
Truly Addicted User
Home insurance question- should your coverage match the value of the home?
If your home is valued at 100,000 is 80,000 insured value okay?
Assumption is if your house burnt down you’d only have the insured amount to rebuild.
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SouthernBlueBlood
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RoyalTX
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SouthernBlueBlood
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Apr 11, 2010
Last login
May 3, 2024
Total posts
44,069 (5,523 FO)
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Messages
Author
Time
Home insurance question- should your coverage match the value of the home?
SouthernBlueBlood
Apr 23, 6:12am
Should match the rebuild cost which may or may not be the value imo
JamieTartt
Apr 23, 6:18am
This is correct. The rebuild cost can be more or less than the resale value. A lot of companies use a rebuild calculator
Chemish
Apr 23, 7:13am
Usually less because it doesn't include land value.
LifeLongLakerFan
Apr 23, 7:21am
You already own the property so rebuild is cheaper
Dark Forest Green
Apr 23, 6:49am
That what I would think. Got a quote for less than appraised value in coverage
SouthernBlueBlood
Apr 23, 6:59am
Then make sure it includes extended replacement cost just in case. Depending on
blueaussie
Apr 23, 7:26am
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