Buying a condo? What you need to know about insurance
Your mortgage company will probably require you to buy condo insurance. But how do you know how much insurance you need?
Your mortgage company will probably require you to buy condo insurance. But how do you know how much insurance you need?
“I could never sell my house for that!” How many times have we heard this said or even said it ourselves? It’s easy to experience sticker shock when we see the value our insurance company wants to place on our home.
Calculating replacement cost ̶ or more accurately, reconstruction cost ̶ is often a complicated process, and results can deviate widely from market price. It’s not unusual for rebuilding costs to be significantly higher than the cost of new construction.