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One thing I run into a lot when insuring people's homes is this very topic.  

The amount the insurance company wants to insure the home for on a home insurance policy is a lot more than what the homeowner says it is worth.  

Well, it depends on how you look at worth.  When most people look at the value of their home, they are looking at the market value or how much it would currently sell for.  

Well, the insurance company looks at how much it would cost to replace the home.  

After a fire, tornado or other loss that causes the entire home to be replaced, it will cost a lot more to clear the lot of all debris and rebuild from scratch than what your home would sell for under current market conditions.  If that wasn't the case, wouldn't you just build a new house with the exact specs you want rather than buying something that was built to someone else's specs?  

So, the replacement amount will be higher every time.  

Should you need any further help with your exact situation, I'd be more than happy to sit down and discuss your exact situation!  

You can visit with an insurance professional.
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