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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (92781)	10/24/2007 7:59:25 AM
From: Wyätt Gwyön	Read Replies (1) \| Respond to of 306849

In a mass disaster, this cost will of course go up let's say you bought the proverbial 1200sf SoCal mansion for 800K, and you and the insurer agree the structure is worth 200K and that's what you insure for. your house is "totaled", so presumably they should pay 200K. but as a result of the mass disaster now unfolding, the actual cost to replace your house is now quoted as 300K. unless you have some kind of "like kind replacement" rider (or unless that's a global stipulation in your particular state), isn't the insurer only on the hook for the first 200K?