Posted On: July 9, 2008, 7:35 am CDT

Posted By: Stat Guy

We weren't enen aware that this was happening until banks started buying insurance agencies. Then the greedy b*stards started steering mortgagees to their in-house agencies, until someone figured out that they were paying premiums for additional but uninsured values. Gotta tell ya that RC coverage is worth it especially in older neighborhoods where the assessed values lag behind new construction costs. But for the most part, agents are the ones who called foul on this; most are competent enough to explain the difference between market value, ACV and Replacement Cost.