Good morning from Belgium
We do have a question about property insurance and maybe someone can help us.
Insurance system is alot different from the insurance system right here in the USA, so we could use some advise/help because if asking to the insurance company, we are sure they always will try to charge maximum.
So this is the situation :
We do own a property , valued by tax collector for around $56,000 ;
We do have a dwelling AND a flood insurance , both have on the contract a rebuilding ( dwelling it is called on contract ) for an amount of $130,000.
For each contract we pay $850 - $900 per year
Compared to what we pay for insurance in belgium we have a feeling we are overpaying , is it realy necessary to have the rebuilding amount as high as $130,000 or would for example $100,000 be enough ?
i think this could make a difference of a copple of hundred dollar per year on both contracts.
Anyone an idea ? or is my thinking about this completely wrong ?
Fox & Tania
