How Much is Your Home Really Worth?
The answer lies in the total value of the home and its contents as determined by the provider’s assessor. The value given to actual items contained within the home are undervalued a bit to take into account the age and condition of the item using a standardized set of formulas used within the industry. There is a cool and free calculator from the Insurance Information Institute that allows you to get an estimate on how much your home might really be worth allowing you to scout around for the best deals in your home insurance.
Ever since the sub-prime lending market crashed last year, the housing market has been going downhill with some states having a huge fraction of homes they contain facing foreclosure. Many states have offered assistance but many homeowners still lost their homes. With the job market also in decline, the number of people who won’t able to make their payments would increase dramatically. Let us just hope that the economic recession gets resolved in the very near future.