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View Diary: According to my home insurance plan (43 comments)

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  •  Decrease? (0+ / 0-)

    Are you kidding?  They increase annually on an inflation-assumed basis, and it's virtually impossible to buy a policy for the actual market value of the house as opposed to a "replacement value" which assumes that you would rebuild the exact same structure (at lower modern quality, as I only own older homes built before modern "innovations" in cheap, undersized green lumber).  Getting them to NOT increase when the market value of the house or the mortgage doesn't justify it requires writing an entirely new policy every years, a request which appalls your agent.

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