Real Estate & Property Law

I Just Saved A Ton Of Money On My Eminent Domain Insurance

By rht

Thanks to Dwight Merriam for forwarding this item, a story that an insurance underwriter is planning to offer -- get this -- eminent domain insurance:

For less than $300 per year, the policy provides up to $200,000 loss of market value when the home is sold, plus up to $50,000 to relieve the expense of moving as a result of eminent domain, [Jeffrey Ward, chief executive officer of The Ward Group] says.

Full story here.  It's kind of strange, buying insurance for when the government fails to live up to its constitutional and statutory obligations to pay just compensation and provide relocation assistance.  But it beats Old Glory's robot insurance, I guess.

Full post as published by inversecondemnation on May 14, 2008 (boomark / email).