Consumer FAQs > Why is my home appraised by the city for $98,000 but the Insurance Companies recommend that it be insured for $198,000?
Why is my home appraised by the city for $98,000 but the Insurance Companies recommend that it be insured for $198,000?
posted on Mar 28, 2022
The city tax appraisers are only concerned with what the real estate value of your home is − what it would sell for on the open market. Your Insurance Broker is interested in what it would cost to build a home of “same like, kind and quality”.
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