[ken5050]

I have a question..hopefully someone with knowledge of insurance might be able to respond.. Homeowner's insurance rates reflect the replacement cost of the structure..In the subburbs of NYC where I live..my house might be worth $1 million, but the lot is about half the value...so my insurance appraisal, and premium, is based upon about $500K...it's generally accepted that the land ain't going anywheres. However, in California, you have the opposite..these multimilion $$ homes, being built upon million$$ lots..and the land can, and does, disappear.. so, are homeowners poliicies written to reflect this, and cost more accordingly..?

[newfrpr04]

Nope. They only insure the structure. Homeowner policies do not cover landslide or flood. You can purchase Flood. landslides are not covered. Many won't write homes on hillsides or slopes,brush... but they keep rebuilding with no regard for potential. State Ca Fair Plan will write basic insurance fire insurance for these homes. None cover the land value. Lenders try to force you to cover the amt of loan which includes land.