Quote:
Originally Posted by pseudoreality
Do you have a source for that? The article post here states the house was valued at $580,000 and
"Lech's attorney told the Post that his home insurance company paid him $345,000 for the damage but that amount did not come close to covering additional costs related to personal property damage, demolishing and rebuilding the home and taking out a new mortgage on the new house."
There is a lot of details missing here. Why would the insurance company only pay $345,000?
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Land value . If your house burns down you don’t get your assessed value . You get whatever value in your policy it has to replace the home