Most insurance companies require homeowners to purchase replacement cost coverage worth at least 80% of their home's replacement cost in order to receive full coverage.
What Does 80% of the Insurable Value Mean?
When you insure your home, you need to decide how much coverage you want. One way to do this is by insuring for 80% of the value of your home. This...
What are the 3 Biggest Factors in Determining the Cost for Homeowners Insurance?
There are a few factors that go into homeowners insurance rates. Some of the things that affect your rate are: 1. The value of your home - This is...
How Do Insurance Companies Determine the Value of Your Home?
When you purchase homeowners insurance, the company will send an insurance agent to appraise your home and determine how much it would cost to rebu...