Here is some practical advice from “Richard R” about the amount of insurance you may be holding on your home. Richard writes …


We just got our homeowners insurance policy from a company who took government money and voila, presto, the value of our house went up! Our plain-Jane ranch home has under 2400 sq ft, vinyl siding, asphalt shingle, gravel driveway and 2 car garage with no outbuildings or hot tubs. It was valued at $697,000 replacement cost without the land.

By questioning and reviewing the house it was reduced by their own formulas to $492,000 replacement cost. This is probably high but not crazy for Southern Connecticut.

Difference in policy premium is almost 25%!

I can’t imagine what the difference might be in Las Vegas where 4000 sq ft homes that sold for 1.3mm now routinely go for $395k…

Have a great weekend.



Thanks Rich!

Please check your policies and make sure you are not overpaying!

Mike “Mish” Shedlock
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