Hello all
This issue has bugged for a few years and trying to "non company line" opinion.
My home is a Boston suburb and I believe in it over insured . The policy is 50 % higher than the market value of the home. If you back the land cost of my home the insured value double the market value of the home. The answer I get from my agent is that I fell into the classic trap of confusing market with replacement value. My response is while I understand the difference, the two should be correlated and the gap should not be that great.
The insurance company says that is true cost to reb
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This issue has bugged for a few years and trying to "non company line" opinion.
My home is a Boston suburb and I believe in it over insured . The policy is 50 % higher than the market value of the home. If you back the land cost of my home the insured value double the market value of the home. The answer I get from my agent is that I fell into the classic trap of confusing market with replacement value. My response is while I understand the difference, the two should be correlated and the gap should not be that great.
The insurance company says that is true cost to reb
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