30 costliest hurricanes in U.S. history-stunning fact
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Downdraft
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Okay I have a question because I'm ignorant on the subject. I purchased a home in Florida in 1997 for 108,000. The house originally sold new in 1990 for 88,000. I sold it last year for $226.000. Now say Charley had destroyed the house and I had full coverage on the place. What would the insurance company have paid off on it? I assume the cost to rebuilt the house plus the insured contents not the market price. If that's correct are the damages listed predicated on the insurable replacement costs and not the market prices? I really don't know that's why I'm asking.
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Downdraft wrote:Okay I have a question because I'm ignorant on the subject. I purchased a home in Florida in 1997 for 108,000. The house originally sold new in 1990 for 88,000. I sold it last year for $226.000. Now say Charley had destroyed the house and I had full coverage on the place. What would the insurance company have paid off on it? I assume the cost to rebuilt the house plus the insured contents not the market price. If that's correct are the damages listed predicated on the insurable replacement costs and not the market prices? I really don't know that's why I'm asking.
I believe it is on the replacement cost only. Check with your'e insurance co.
Robert
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