I talked to my insurance guy recently and asked him if I can change my homeowner's insurance coverage to appraised value or something close to it and keep it there instead of having amount of coverage raise each year as my current HO-3 policy does. This question garnered an evasive runaround that took me by surprise. He "strongly suggested" i keep current policy, noted that a total loss of would leave me in bad shape, etc. He reluctantly said we might look at something different, but hinted that insurace companies have standards (insuring to rebuild cost) that they don't like to stray from...and on and on. I came away feeling I'm being fleeced.

I've paid all the various kinds of insurance for over 40 years now with exactly one claim ($2600 for car hail damage) about 17 years ago. Period. I'm now retired, not wealthy by any stretch but comfortable enough to play some odds (which I didn't want to do when my family was growing up) without fear of losing everything.

All I want is a simple coverage for actual value of the house. I'm a blue collar guy, worked in the trades all my life. I don't know anyone who has ever or ever would rebuild their house to its specs. I would, like most folks I know, be satisfied to take value of home and put it toward another. This would be like selling my house for current value before acquiring another, just like normal life. Is this sort of coverage even available today?