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re: How much should I insure a house for?
Posted on 10/17/20 at 8:11 am to wickowick
Posted on 10/17/20 at 8:11 am to wickowick
. . . so when gutted the subfloor is also removed?
(serious question =/= sarcasm)
and 2: what about the stuff in an attic? Have heard the term gutted but always wondered to what extent, to be considered gutted.
(serious question =/= sarcasm)
and 2: what about the stuff in an attic? Have heard the term gutted but always wondered to what extent, to be considered gutted.
This post was edited on 10/17/20 at 8:15 am
1
Posted on 10/17/20 at 8:52 am to awestruck
Well in Louisiana, most homes are on slabs, if the plywood subfloors delaminate due to water, they would need to be replaced, otherwise they dry out pretty quick. Open the doors and windows and let the air circulate. The stuff that holds moisture, insulation, flooring, etc will have already been removed by the gutting.
Posted on 10/17/20 at 4:29 pm to pwejr88
Posted on 10/18/20 at 6:22 am to wickowick
quote:
contractor/mitigation company running that equipment in a gutted house is just padding their fee bill.
Yup. Those rental rates on those $150 fans are ridiculous.
To the op, a lot of companies also use your rebuild cost/limits as a means to determine your contents coverage as well. Keep that in mind
Posted on 10/18/20 at 6:23 am to ThePoo
quote:
can tell you that a total loss is extremely extremely rare even in the event of fire and tornados
Total losses are pretty common. I’d say about about a quarter of my claims are total losses.
Posted on 10/18/20 at 8:57 am to Boss13
I’d let the insurance set it. Living through the Laura recovery about 5% of homes are a total loss. I never thought I would see situations like this. My neighbor tore his house down. Another friend lost their 500k+ home. Tore it down. Insurance have them a full replacement. I’ll also say if your in that situation you hope they give you a total loss. I have other friends that didn’t get a total loss and it’s a fight to get their house back to pre storm shape. These are 400k+ homes. So if you love near the coast or within 60 miles make sure it’s insured correctly.
Posted on 10/18/20 at 12:26 pm to tigereye58
What about those with mortgages? Let’s say you buy a $300K home, put $60K down. Lien holder only needs $240K coverage. Should you insure the entire $300K to get what you have in it back less deductible?
Posted on 10/18/20 at 8:43 pm to good_2_geaux
Make sure you cover household goods. Then, and everyone should do this. Go through each room an record everything in your house. There is nothing more sad than watching a person devasted by fire flood or weather, trying to remember what is in each room.
We had a break in. Last house of four. Most of my stuff left at the back door. Neighbor across the street spooked them. Everything small electronics wise along with the pillow cases to carry them with, went with the kids that broke in. Notice, I stated kids.
Insured by Metropolitan. I provided a list by manufacturer, serial numbers and photos of each item. It was like going through a Sears catalog to pick replacements. Two weeks later, a kid was caught breaking into a home with a silent alarm. Police walked in on him while in the act. When asked why...he gave the names of four kids waving hundred dollar bills at the High School. Kids were arrested at the school, then offered to point out all four houses they hit. My next door neighbor had sold a used car for cash. $2500 in a sock. Prompted them to hit my house. Court was fun. They all were convicted for armed robbery...they stole my Bi Centenial Winchester that had never been taken out of the box. One parent showed at trial. The Step Mother screamed I've had enough and left before we went into court. Little Johnny had three prior convictions and two pending. He has paid rent for three more years in Florida.
We had a break in. Last house of four. Most of my stuff left at the back door. Neighbor across the street spooked them. Everything small electronics wise along with the pillow cases to carry them with, went with the kids that broke in. Notice, I stated kids.
Insured by Metropolitan. I provided a list by manufacturer, serial numbers and photos of each item. It was like going through a Sears catalog to pick replacements. Two weeks later, a kid was caught breaking into a home with a silent alarm. Police walked in on him while in the act. When asked why...he gave the names of four kids waving hundred dollar bills at the High School. Kids were arrested at the school, then offered to point out all four houses they hit. My next door neighbor had sold a used car for cash. $2500 in a sock. Prompted them to hit my house. Court was fun. They all were convicted for armed robbery...they stole my Bi Centenial Winchester that had never been taken out of the box. One parent showed at trial. The Step Mother screamed I've had enough and left before we went into court. Little Johnny had three prior convictions and two pending. He has paid rent for three more years in Florida.
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