Likely, if you purchased or refinanced a home within the last 5 years, your property value is not what it was then. If you put a substantial down payment on the transaction or have a lot of equity, you may be over paying for your hazard insurance. Check with your insurance agent to see if you can lower your bill. NOTE: if you pay your insurance through your impound account it will take a while to see the savings.
Coastal Real Estate - Cape Coral FL - Cape Coral, FL
REALTOR, SRES, CDPE - Cape Coral, FL
I called my agent a couple of weeks ago - my renewal came in and my rates rent up even when the value of my property went down. I was told it is based on cost to rebuild the home so I can't do anything to change the amount it is insured for since I have a mortgage :(
Jan 17, 2011 04:47 AM
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