Homeowners Insurance

We just bought a house and got homeowners insurance. They priced it at $240k for replacement and I got the insurance at this level. I just got a letter in the mail saying they evaluated and the replacement cost would be $209k. I’m calling in the morning but should I decrease the insurance? For context we bought the house for $225k if that matters at all. I know market value and replacement are two different figures.

I want to be covered but don’t want to overpay obviously. Also afraid that on my call tomorrow they may try to keep me at a higher price even if I don’t need it.

submitted by /u/sugarapplespice
[link] [comments]

We just bought a house and got homeowners insurance. They priced it at $240k for replacement and I got the insurance at this level. I just got a letter in the mail saying they evaluated and the replacement cost would be $209k. I’m calling in the morning but should I decrease the insurance? For context we bought the house for $225k if that matters at all. I know market value and replacement are two different figures. I want to be covered but don’t want to overpay obviously. Also afraid that on my call tomorrow they may try to keep me at a higher price even if I don’t need it. submitted by /u/sugarapplespice [link] [comments]

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