How Do I Value My Home For Insurance? 
There are several forms of homeowners insurance . The HO-3 is the most common form and it provides replacement cost coverage for the residence . Most insurance companies will require that you insure the home to its replacement cost . There are services that estimate the cost of replacing your home . The insurance companies normally accept their estimates . If you feel the estimate might be too high , many insurers will insure to a value that is guaranteed by a local contractor . If the contractor states that he can replace the residence for a specific amount and guarantees that for a period of time , the underwriter might issue a policy for that amount . 