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 would it 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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