i have replcement cost ins on my home it cost a lot more to

by guytonvirginia » Fri Sep 10, 2010 12:24 am

had a fire lost every thing limit 250 and its going to cost 355 to build back

Total Comments: 3

Posted: Fri Sep 10, 2010 12:28 am Post Subject:

Are you saying you have a Replacement Cost policy with a stated amount or policy limits of 250K?

If so, and the cost of replacing your home is really above 250K, the insurance will most likely pay out the policy limits (250K) and that is the most they can give you.

It may be that you were very underinsured.

The insurance company has its hands tied by the policy contract you took out and paid premiums on.

Posted: Fri Sep 10, 2010 10:45 am Post Subject:

Perhaps you didn't analyze your risk potential properly. Now, you have to make up for that 105 K. A tough job I guess!

Posted: Fri Sep 17, 2010 05:53 am Post Subject:

It may be that you were very underinsured.


That's why I'd seek advice from an insurance professional. It's always better that we get our home properly evaluated before we apply for insurance !

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