Homeowner's Insurance Explained: "My insurance company says my house is worth WHAT?"

Question: My Homeowner's policy says my home is valued at $425,000- similar houses are selling across the street for a little more than 2/3 of that. Not only does my stated policy value seem high, but that doesn't even include the land; How do insurance companies arrive at this amount? 

 

Answer: 

Check back on 12/01/17 for a comprehensive explanation of Dwelling Valuation, Replacement Cost, and some other key homeowners insurance considerations. 

 

 

Personal InsuranceJoe Cox