Market Value - 5 Things Your Homeowner's Insurance May Not Cover - Bob Vila
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Replacement Cost vs. Market Value
Your house has burned down, but the land is still there. Will your coverage pay for rebuilding? Chris Hackett, a property insurance expert with the Property Casualty Insurers Association of America, recommends getting separate valuations for the actual house and the underlying property. That way, you can be sure to have enough coverage to fully replace the house itself, regardless of the value of the land.