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Go Back   REVscene Automotive Forum > Automotive Chat > Vancouver Off-Topic / Current Events

Vancouver Off-Topic / Current Events The off-topic forum for Vancouver, funnies, non-auto centered discussions, WORK SAFE. While the rules are more relaxed here, there are still rules. Please refer to sticky thread in this forum.

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Old 02-09-2012, 11:34 AM   #26
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Quote:
Originally Posted by LIKEABOSS View Post
I wonder if the owner's insurance will pay out the amount stated in his "BC Assessment" (probably around $750,000) because I don't think he would get anything near that much if he sold it on the market.
As someone said earlier, that value is almost entirely on land. Furthermore, house insurance doesn't operate this way. You insure your house based on an amount of replacement if an accidental incident was to occur. The owner could have been insuring the cost of replacement of $200k, $300k etc, all of which reflects the insurance premium. Someone correct me if I'm wrong. Earthquake protection etc. are extra coverage.
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