Is it possible my insurance agent over-valued my home?
I suspect that the value placed on my home by my insurance agent is way elevated. Is there some way I could confirm and/or rebuff his valuation?
Answers:
If your home is in a larger area?
Zillow.com will administer you a rough estimate. Actually I just had my house appraised and zillow vs the appraiser be off by less than 1%.
Good Luck.
Zillow?
Just put your adress and zipcode on the vein next to go. hit progress. it should find it.
The value of your house have only a small effect on your home insurance premiums, so why worry in the region of it?
Besides, replacement cost is not necessarily assessment value. $110k for 750 sq ft is actually on the low side contained by most places.
Replacement cost is how much they numeral that it would cost to completely rebuild your house, including demolition of say a burned to the ground house.
The best way to keep your insurance agent honest is to shop around for a different valuation and premium.
The replacement cost is what they estimate it would cost to re-build the house should it be damaged. It has zilch to do with what zillow shows. If your home is badly dilapidated the insurance company would not be buying you a new one, but repairing your old one. They buy exotic, pay contractors, etc.
Even if their estimate is high specifically a good thing. It is better to hold a little too much insurance than not enough. If your house is lower than insured and something happens you would have to trademark up the difference if repairs were needed.
Related Questions:
Answers:
If your home is in a larger area?
Zillow.com will administer you a rough estimate. Actually I just had my house appraised and zillow vs the appraiser be off by less than 1%.
Good Luck.
Zillow?
Just put your adress and zipcode on the vein next to go. hit progress. it should find it.
The value of your house have only a small effect on your home insurance premiums, so why worry in the region of it?
Besides, replacement cost is not necessarily assessment value. $110k for 750 sq ft is actually on the low side contained by most places.
Replacement cost is how much they numeral that it would cost to completely rebuild your house, including demolition of say a burned to the ground house.
The best way to keep your insurance agent honest is to shop around for a different valuation and premium.
The replacement cost is what they estimate it would cost to re-build the house should it be damaged. It has zilch to do with what zillow shows. If your home is badly dilapidated the insurance company would not be buying you a new one, but repairing your old one. They buy exotic, pay contractors, etc.
Even if their estimate is high specifically a good thing. It is better to hold a little too much insurance than not enough. If your house is lower than insured and something happens you would have to trademark up the difference if repairs were needed.
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