Talk of The Villages Florida - View Single Post - Recommendations of Home Owner's Insurance in TV
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Old 07-07-2020, 10:29 AM
APovi APovi is offline
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Default Homeowners Insurance-Insurance Value -vs- Replacement Cost ?
Is it true that an Insurance Premium is based on an estimate of probable Replacement Value. But a Claim is settled on "As Is value" on the date of the loss?
Does that mean that we pay a premium based on, for example, $300,000 but the Insurance Adjuster determines that the damaged improvements were only worth 75% at the time of the loss?If we pay a premium based on $300,000, are we not entitled to 100% in the event of a loss?