What is your house insured for? If its $300K what you bought it for you are probably over insured. You should ask your insurance company to do a replacement cost calculation for your home.....what would it cost to build your home today from scratch. That would not consider the land. YOur deductible would be 10% of the reconstruction cost, if the house were to be considered totaled.. So if your land is worth $50 K and the house $250K your deductible would be approx $25K. It would not be 10% of the insured value but of the paid out value based on reconstruction costs.....but not to exceed your policy limit.
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