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Why is my house not insured for its market value?

Why is my house not insured for its market value?

Believe it or not, the selling price of your home isn’t really related to its insurance value. Your insurance policy doesn’t factor in the cost of the land your home is built on, but rather it’s designed to cover the costs associated with rebuilding your home after a...
Why is my house not insured for its market value?

Q. What does GRC mean?

It means Guaranteed Replacement Cost, and it essentially means that if you suffer a total loss to your property (fingers crossed that never happens) and the damage exceeds the limits on your policy, your insurer must fully replace or rebuild your property without any...
Why is my house not insured for its market value?

Q. What does ”single limit” mean?

This section of the policy provides insurance for your Dwelling, Detached Private Structures, Personal Property, and Additional Living Expense under a single amount of insurance. You will find this single amount of insurance shown on the Coverage Summary under Amount...
Why is my house not insured for its market value?

Q. What types of property do you insure?

Right now we offer home, condo, tenant, seasonal (cottages), vacation trailer (campers) and rental property insurance. Bundling your auto insurance with your property insurance can qualify you for up to 50% off your property premium and 18% off your auto. aha...
Why is my house not insured for its market value?

How much insurance coverage I need on my property?

aha insurance will work with you each step of the way. Whether you’re online or working with an aha insurance broker, we use your postal code and our insurance-to-value estimator to consider many factors about your property, including its construction, size, and...