Windstorm coverage vs replacement value

[stormdodger]

What is the name of your state? Florida.

I live in a coastal Florida community. Given the recent boom in real estate values and apparent increase in hurricane risk, should homeowners here carry windstorm coverage based on actual replacement value? My property tax statement says my home is assessed at $67,146 with a market value of $137,685 -- yet I know it would sell for nearly $300,000. But my windstorm coverage through Citizen's is still $68,000. I bought the house in 1992 (no outstanding mortgage).

I don't feel comfortable with this and value your expert opinions -- what would you do? Also, would tripling the coverage about triple the premium?

Thanks in advance for any replies.

 

[JETX]

I live in a coastal Florida community. Given the recent boom in real estate values and apparent increase in hurricane risk, should homeowners here carry windstorm coverage based on actual replacement value?

Did you have a LEGAL question in their somewhere???