On Tue, 11 Nov 2003 05:12:41 GMT, "DaveG" wrote:


Yeah- Make sure your policy has enough coverage to replace your house in the
event it burns down or is otherwise totally destroyed by an insured event.
Keep in mind that part of the value of your house is in the land, which
typically doesn't burn down with the house.
How much of your home's value is the land? The difference between the land
value and the total value is the value of the structure. Make sure you have
replacement cost on at least that much, and you should have no problems in
the unlikely event your house is totalled in a fire. Make sure the coverage
on your policy is indexed for inflation, too.


What is the average worth of a house lot as a percentage of the whole
property including the house? Since money is very tight its one of
those hard choices I will have to make. My 1200 sq ft house is on
8000 sq ft lot in a modest neighborhoods and I think the property si
worth $140K. The thinking is that the money not spent in insurance
can pay for rebuilding on the same lot. I am in a very low fire risk
neighborhoods and being the only house in a corner lot with a single
neighbors some distance away, I have even lower risk.