Reply to how much is your home issuance annually?

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[quote=Anonymous][quote=Anonymous]

We pay $1,050 for a $1.2 million rowhouse in DC.

OP, remember, insurance is to cover the replacement cost of the house, and excludes the cost of the land.

So in our case, the cost of rebuilding our house is relatively low - most of our home value is land value.

If you have a big house in a place where land is cheap, your home value may be the same $1.2 million as ours - but most of that is house value, not land - so your insurance will be higher.[/quote]

Land doesn't get rebuilt in a claim.  1050 is based on what coverage you have for the building and contents:  deductble, covered perils, replacement cost [finsihes, square footage etc].

Did you get a renewal in 2022?  Mine went up 14% - basically because of the cost of construction.   Not all policies are full replacement cost-it might be a rider.  When we last shopped insurance to get full replacement cost it meant an agent to the house taking massive numbers of photos to document everything.  Custom solid wood cabinets v builder grade is evn in that.  [/quote]

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