Why does my insurance company want to know if I have crown molding?

I was filling out a questionnaire to get a quote on my home insurance. Why do they want to know if my home has crown molding?

Answer
“The reason they want to know if your home has crown molding is that replacing crown molding can be expensive, especially if it’s wood or highly detailed.
As most home insurance policies use replacement cost for the dwelling and other structures, the cost of replacing items is a factor in determining your premium.
If something happens to the crown molding, you’ll likely want to replace it, meaning it will cost the insurance company more.
It’s a similar idea to comprehensive coverage on a car. If your car is damaged and you have leather seats, the cost of repair will be higher.
If you need help gathering quotes for a new home insurance policy, use Jerry. Jerry finds the cheapest quotes from the top name-brand insurance companies, helps you switch plans, and even cancels your old policy for you.”
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Eric Schad
Answered on Aug 13, 2021
Eric Schad has been a freelance writer for nearly a decade, as well as an SEO specialist and editor for the past five years. Before getting behind the keyboard, he worked in the finance and music industries (the perfect combo). With a wide array of professional and personal experiences, he’s developed a knack for tone and branding across many different verticals. Away from the computer, Schad is a blues guitar shredder, crazed sports fan, and always down for a spontaneous trip anywhere around the globe.
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