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This is a great topic for one peculiar reason. Many folks in the US have forced placed insurance. This is the mortgage company taking over responsibility for securing coverage when you as the property owner have failed to do so. The main problem is that forced placed insurance is usually very expensive and imposed on the least educated consumers. 

Take charge your life and buy your insurance wherever you find the right coverage at the right price. Be as diligent in pursuit of a " good deal" on your homeowners insurance as you would on auto insurance. There are substantial variations in the coverages under a homeowners policy much more so than on an auto policy: here is why: Auto insurance protects you in your involvement with others so the greatest protection is for damages, Bodily injury or Property Damage that you do to others . So you are more often dealing with third party ( the first party is the you , the second party is the insurer,and the third party is the one you injure).

Section II of a homeowners policy involves third party liability, but most of the property losses in general are first party payments by the insurer. Your house is hit by a tornado,Your insurer has to respond to you! so, look at the nuances of coverages offered by insurers. They are many: including such things as scheduled property, water and sewer back up, automatic extension of dwelling limits, law and ordinance coverage, mold remediation, and so on. If you don't understand the coverages offered ask your agent for an example of how a coverage would be used. An educated consumer is a better consumer.
Posted 3:10 PM

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Clint Rossiter said...
So, my house might sell for $70,000 and my insurance is covering it for four times that. It is now mortgage free and I am not interested in replacement coverage, just market value. Can I get any insurer to do that and would it do anything to bring the premiums down? /Clint
SUNDAY, DECEMBER 31 2017 11:56 AM

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