The insurance company may sometimes overvalue a home which forces up your premium. You may be able to use an appraisal to demonstrate to them the appropriate value and thus reduce your homeowner's quote and thus your insurance premium. Remember that an appraisal will include land value, so subtract that out in order to come up with the figure that you are going to use to persuade the insurance company how much your building is worth.
Call us today for more information on an insurance report.
Private Mortgage Insurance or PMI is the supplemental insurance that many lenders ask home buyers to purchase when the amount being loaned is more than 80% of the value of the home.