Any of you cool cats out there know anything about proper insurance coverage for a house? Because I’m looking at switching my insurance, and the new company says I’m really under-insured. I don’t want to be under-insured, but I’m not sure I want to be over-insured, either. Right now I’m insured for about 1.06 times the appraised value of the house. New company says I should be more like 1.73 times the appraised value. That’s a big difference, no? FYI, it’s an old farmhouse–part of it from 1830s, perhaps, part of it from late 1800s.
Any and all advice would be appreciated.