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rental property insurance

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What is the name of your state? maine
i have 3 single family homes that i rent out and are mortgage free.i built the houses myself and insured them for more than what they were worth $84000 now my insurance is threatening me to cancel my policy if i do not increase it to $145000 each.if the house were to burn down the foundation land and leachfield is still there?the valuation on the house is only $115000 with land and all.they call it replacement cost.i know if the house burns they will not give me $145000 to replace it.does this sound legal or can i insure it for what i want.they are just small ranches.they sell 2 story cape modulars down the road finished on your lot for $69000. thanks mike


This gives you an excellent opportunity to entertain (and companre) offers from other property insurance carriers. Any reason why you haven't done so?

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