G
gizmo
Guest
So, can anyone explain to me please, house was valued at half what it would cost to rebuild HALF.... so, if God forbid my house burned down, what would I get paid out for? The market value which is half what it costs to replace? Also, if this be the case, what happens with my mortgage? I end up stumping up the other half? Totally confused, how can something be worth half of it's cost to create? Can someone please explain, and is there any use in paying a premium for the rebuild cost, as I'd imagine the max they'd pay out is the valuation and not the rebuild cost... head is melted, help.........