I am not sure how much home insurance coverage I should have for the house I bought 2 years ago. The cost of the house including the land was $96,000. But that includes the price of the land, etc.
I now have to renew the home insurance policy and realized maybe I should reduce the amount of the coverage from $96,000 to around $80,000. The dwelling amount for the insurance has been the price I paid for, $96,000. But if something happens and the house needs to get rebuild, the cost of building should not be as high as $96,000. I currently owe mortgage $70,000.
Do you have any recommendation? I do not know if I can ask the insurance agent to reduce the dwelling coverage. But I am hoping a way to save money on the home insurance.
Could someone give me an advice?
Thank you.
2007-02-14
07:11:51
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0 answers
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asked by
Anonymous