The Residential Real Estate Crash Index Message Board

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Strategies & Market Trends : The Residential Real Estate Crash Index

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To: Wyätt Gwyön who wrote (92769)	10/24/2007 3:19:03 AM
From: 8bits	Read Replies (1) of 306849

OK, what you say makes sense as far as the payoff goes... but when people come up with a figure to insure, it is based on the replacement cost of the structure, not the land, correct? so if the house costs $800K but the estimated rebuilding cost is only $200K (probably quite generous for a 1200sf house), won't they typically only insure it for $200K? that is the way it works in TX, as far as i know... That's the same with my insurance policy in Cal... in fact they wouldn't had me the money if my duplex burned down... they would hire contractors to build a structure of the same size and with the same or similar features. (Tiled bathrooms, kitchen, hardwood floors..etc...)

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