Market Doesn’t = Insurance Value By Lou Marinaccio
Market Value Doesn’t Equal Insurance Value! By Lou Marinaccio During these turbulent times, we have seen market values of homes plummet as much as 75% of the listing price or previous sales price. One’s first impression is, “why don’t I insure to that value and save those premium dollars?” Don’t be tempted. Any good insurance agent will caution you against that course of action. The term “replacement cost” means replacing like quality for like quality. The original workmanship and quality of materials will always be more difficult to replace at any time. Given that we have been fortunate so far […]
Tuesday, March 30, 2010
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