Bank will only insure property based on loan amount. My suggestion is ask the insurance company to insure more. My bank insured my house for 150k only but luckily I increased to 400k. There was a fire in my roof due lightning and was able to cover the entire cost of repair plus some. (roof is value about 20% of insured amount).

This post has been edited by jetblast: May 6 2019, 11:03 AM

Yearly. I think its 200 plus but have to go home and check. PM me if you want to know.