DIYbanter - View Single Post - Home-owners insurance from Farmers

In article . com,
says...

Just wanted to bounce something off the group.

I have recently received a quote from Farmers insurance for home-
owners. They put the price at rebuilding the home at about $181,000
but the tax roles list my house at $100,000. Should my house burn to
the ground, would it indeed cost $181,000 to rebuild or is Farmers
just padding the coverage?

More often, homes are under-insured, not over-insured.

Your tax valuation is the cash value of a used house, your insurance
would have to pay to build a new house.

The coverage for your home would be calculated based on the cost to
rebuild it, given its size, style, features, and local cost of
construction. Costs vary widely depending on location, around here,
$100/square foot gets a plain square box tract house, and high-quality
construction can exceed $200/sq ft.

--
is Joshua Putnam
http://www.phred.org/~josh/
Braze your own bicycle frames. See
http://www.phred.org/~josh/build/build.html