Lender requiring insurance coverage to be doubled!!!!

[ocngypz]

How big is the house? How old is the house? Replacement value can vary greatly.

[momtothree]

We had the same issue and balked at first. But as the insurance company explained it, it has nothing to do with appraised value. That's the value of your home if you sell it today.

Replacing is the cost of labor, materials etc if your home is totaled. Inside and out too by the way, that includes fixtures, flooring, furniture etc. Your appraised doesn't include some of that.

[Okey Dokie]

And the appraisal also includes the lot, the foundation and the driveway, which most likely will not suffer any damage in a catastrophic loss.