Author Topic: Insurance  (Read 982 times)

yddeyma

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Insurance
« on: December 03, 2014, 07:53:21 PM »
Had a question about home insurance for my rentals and posted it in the wrong spot: http://forum.mrmoneymustache.com/welcome-to-the-forum/frugal-with-insurance/

Any advice appreciated.

MrMoneyPinch

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Re: Insurance
« Reply #1 on: December 04, 2014, 03:11:40 PM »
Replacement value =/= market value.  Your insurer also factors costs like cleanup and securing the site, lost revenue, etc. in that number.

I had a little water in my basement, which did not go high enough to damage anything except the underfloor. The total insurance payout went way over 20k$, even if the builder's bill was only 11k$ (demo, rebuild and floor coverings).