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See our new article in this month’s Pennsylvania Homes. Here’s a preview:

What Influences Your Home Insurance Policy

By Chantelle Kingsbury

Tell us a little bit about your company and it’s foundation.

Gallen Insurance has been providing complete business, personal and benefits services since 1957 when Joe Gallen Sr. founded the agency. We have grown through the years and expanded, but remain a local, family operated business in Shillington, PA. Due to our community involvement and support of local non-profit organizations the Gallen employee family is committed to the quality service and sincere support of our extended customer family.

Is there a generalized formula that is used to determine home value and thus home insurance? If so, what is this formula in an easy-to-understand way for readers?

No, there is not a generalized formula. The insurance industry uses a Replacement Cost Estimator to determine the insurable value of the home. The most common misconception is that this value should be comparable to the market value of the home, when in fact there are many additional variables used to determine the replacement cost value. Some examples of these variables are debris removal, site preparation, labor and materials.
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