Can amount insured be higher than the real property value?
Yes, but restrictions apply. Fidelity will only respond of the real value of property at the time of risk occur, establishing a high limit, and if constructions or similar are built on the property and increase the real value of property, insurance policy can be upgraded to cover real value of the property.
Related Questions
- Is University property automatically insured? If stolen, is there a deductible and how is the replacement value determined?
- How do I determine the estimated market value of a particular property using the Comparable Sales provided by RealtyTrac?
- Can the amount insured be higher than the real property value?
