U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 06-09-2015, 09:44 AM
 
4,635 posts, read 7,264,740 times
Reputation: 4754

Advertisements

How big is the house? How old is the house? Replacement value can vary greatly.
Reply With Quote Quick reply to this message

 
Old 06-09-2015, 11:32 AM
 
7,672 posts, read 9,403,284 times
Reputation: 7907
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.
Reply With Quote Quick reply to this message
 
Old 06-09-2015, 03:19 PM
 
Location: Kansas City North
3,643 posts, read 6,820,502 times
Reputation: 4665
And the appraisal also includes the lot, the foundation and the driveway, which most likely will not suffer any damage in a catastrophic loss.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Real Estate > Mortgages
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2018, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top