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Market Values are Down, Insurance Values are Up? July 15, 2009

Posted by John Watch in News Feed.
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Insurance Value vs. Market Value: With the down turn in property values, are insurance companies lowering the cost to build factors?

 

 

 

 

Public records and property data indexes indicate property values have declined anywhere from 15% to over 40% nationwide.  Understanding that part of the value is in the land and the other part is in the improvements, are insurance costs lower as a result of this decline?

In parts of the country, the answer is no.

South Florida  

Texas

 Logically, one would expect the cost of construction used by insurance companies to be lower, but there appears to be evidence that indicates otherwise.  So are property owners paying more than they should? What do you think?

Ten Ways To Cut the Cost of Your Homeowner’s Insurance

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