Quote:
Originally Posted by beemergary
Just went with State Farm and we'll see. Had Hastings and the will put a value on your home thats 100K more than you could ever sell it for and now raise your rates a bunch. Total Scam. Had AAA for 28 yrs. and had to dump them. Allstate Never again. Got to shop till you drop and not be loyal to any agent.
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When you are insuring a house, it's not what the house could sell for, it's what it cost to repair or rebuild.
If not insured to replacement cost (which would pay the claim in full) your home would be insured for depreciated value (which would pay you a depreciated value on any claim).
If you suffer a $25,000 loss, do you want to be paid $25,000 less your deductible or $10,000 - $15,000 less your deductible?