Filing a complaint on my homeowners ins. with the state

Hi Ladies,

I am new to the site, but since getting married and closing on our home last month - I have been lurking. I could really use some advice as I think I am filing a complaint against my HO insurance company. We closed on our house July 18th. The house apprised for $390k, the insurance company said the land was $150 and the house was $240. So we get a insurance policy for $240k - about $1100 a year. Yesterday they call me and say that a new adjuster went to our house and re-appraised what our house would cast to rebuild and what we should be insured for. the new amount is $410k!!! THIS IS CRAZY! We didn't even buy the house for that much and that price is not including land value. How can my house be appraised for $240 (house only, not property) and a month later double to $410!!!???!! So now they want to raise my policy to $1800 a year! We only brought the house for $375... So, bascially what they are saying is that my house is worth more money burnt to the ground then standing?? I called the NYS Insurance Dept this morning and they told me to file a complaint in writing but she said they would just ask the insurance company to show the numbers on how much a rebuild would be - which isn't very hard to inflate prices! So now are only option is to pay the extra money or shop for a new company. I just hate to switch compaines bc I had them for so long. Has anyone heard of a company doing this? I feel like they are over insuraning me and forcing me to pay an amount that my house isn't even worth! Thanks for listening and any advice you can give!

-Kristen

Re: Filing a complaint on my homeowners ins. with the state

i havent been in the situation, but i would definitly stat calling other companies, even if you dont switch at least you can hear what other people have to say your house is worth and what it would cost you. id be pi$$ed, but probably wouldnt file a complaint.

Re: Filing a complaint on my homeowners ins. with the state

it sounds like you are being overinsured...one thing I tell ppl I dont want to do when discussing Homeowners.

I would call around and get quotes.
I work in the ins field, if interested, send me an FM.

Re: Filing a complaint on my homeowners ins. with the state

Just switch companies.