Owner Occupy Duplex, unsure how much to insure

[David Santore]

I closed on my duplex last year in MA, and I'm living in one unit and renting the other out.  My question falls on insurance for the Dwelling - should this cover the entire appraised value of the house?  Right now my Dwelling policy is 50% of my house appraised value, with an extended replacement cost on dwelling - this still doesn't cover my full house.

I'm worried I am underinsured here and if I should get the complete value of the house covered - help?

[Jason Bott]

Thanks @Brie Schmidt

@David Santore

Is the land value high?  If not, then it sounds like your underinsured.

To determine how much you should be insured for, ask your insurance agent to run a Replacement Cost estimator.  This estimator will use local material and contractor pricing to determine what it would cost to rebuild the home. 

You can then set the buildings insurance limit to that limit. 

Good luck