The best advice I can give you is to make sure that the insurance that you purchase( homeowners ) is for replacement value coverage. Many companies insure a home for the value at closing. If you live in the house for ten years, then it burns to the ground, you may find that it was only insured for it's value when you bought it. You want replacement cost coverage, which would mean that the insurance company would be liable for paying what it would actually cost to rebuild or repair at the time of the claim.
June 29th, 2008 at 9:58 am
Full.
June 29th, 2008 at 9:58 am
The best advice I can give you is to make sure that the insurance that you purchase( homeowners ) is for replacement value coverage. Many companies insure a home for the value at closing. If you live in the house for ten years, then it burns to the ground, you may find that it was only insured for it's value when you bought it. You want replacement cost coverage, which would mean that the insurance company would be liable for paying what it would actually cost to rebuild or repair at the time of the claim.