average homeowner insurance
16 most common Lawn Care Business Insurance questions – GopherHaul Podcast
Research question please, how much does it cost for a house in the suburbs of your location?
I am trying to reserach home prices and taxes in suburbs living with good schools and low taxes as i am thinking about moving from this hell hole of Syracuse NY taxes too high and no good paying jobs. Please answer these: Your location: 1.Average price of home in suburbs 3bed 1 bath ranch style or split level homes. 2. Annual Taxes including county and school? 3. Job market good no closings or layoffs? 4. Homeowners insurance cost for year? 5. Good schools? Thank you for your time please answer these questions in refernece to your hometown and city.
go to realtor.com and just type in any city and state and a price range. what comes up is the property and the taxes. check it out. and check this out as far as public school reviews…
http://www.publicschoolreview.com
Homeowners Insurance – is your Home Insured for Its Replacement Value?
When insuring your personal property, experts always say to insure the replacement value, not the actual cash value. The actual cash value is an item’s replacement value minus the amount it has depreciated. As a result, the actual cash value is not enough to replace the item with a new one. The same concept applies to your home: You need to be sure it is insured for its replacement value. Otherwise, should disaster strike, you will end up rebuilding your home with lower quality materials or even reducing its size.
The majority of single-family homes in America are not ensured for their replacement value, according to Marshall & Swift/Boeckh, a company that provides valuation data to the insurance industry. Fully 58% of single-family homes are undervalued for homeowners insurance purposes by an average of 20%. For example, a home that would cost $300,000 to rebuild on average is insured for only $240,000. The gap between the insured amount and the replacement value means that builders would have to skimp on materials or even reduce the size of the home to meet the budget.
The insurance shortfall is the result of several factors. First, of course, is inflation. The cost of everything is on the rise, and the cost of building materials has risen more than the general inflation rate. The damage caused by Hurricane’s Katrina and Rita led to a shortage in building materials that drove up costs substantially. The second factor is the remodeling craze that has swept the country, fueled by television programs such as “Extreme Makeover Home Edition,” “Trading Spaces,” “Design on a Dime,” and “Flip this House.” Homeowners are replacing original doors, windows, kitchen cabinets, countertops, showers, and flooring with upgraded materials and designer fixtures that cost substantially more to replace. The third major factor is changes in building codes that mandate the use of more costly designs and materials.
If you are worried about being underinsured, contact your insurance agent. Find out if you have extended replacement cost coverage and, if so, for how much. If you have remodeled your home, let your agent know. You do not want to lose your investment in upgrades just because your insurance company does not know about them. If your insurance amount has not changed for three years or more, ask your agent for an analysis of your home’s replacement cost. A revised insurance value may result in slightly higher premiums, but you will have the peace of mind of knowing that your home will be replaced as it is today, not as it was when you bought it.
