What should replacement value be based on for home insurance?
My insurance company estimated the replacement cost for my home at over $100,000 more than the appraised value (which includes the value of the land). Should I be concerned about that? Is it advantageous to have the insured value greater than the actual value?
home insurance is actually very flexible. I don’t understand all the details of my home policy, but my homeowners insurance agent is always a phone call away. Try contacting your agent or a homeowners agent in your town. http://www.easyhomeinsuranceguide.com They should be able to help you.