When you insure your home for $200,000 and have a total loss, if the cost to replace is $170,000, will your insurance pay the $200,000 or just $170,000?

Asked on July 20, 2012 under Real Estate Law, Nebraska


FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 8 years ago | Contributor

If you have a policy of insurance on your home for $200,000 and the home was a total loss where the costs of repair will be $170,000, then the most you as the homeowner and insured would be entitled to would be the $170,000 amount.

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