Should You Accept the Insurance Company’s First Offer?
When a disaster befalls your home, all you want is for the insurance company to give you the money to repair the damage and replace your possessions. However, an insurance claim isn’t that simple. The insurer will send an adjuster to inspect the damage and determine a dollar amount for reimbursement. Experts recommend you don’t […]
Cosmetic Exclusion Explained
Homes have functional elements and some are considered cosmetic by insurance companies. These are exterior surfaces that includes doors, windows, siding and some types of roofing. Cosmetic portions of the home affect the aesthetic appearance of the home, but not its functionality. Many insurance companies have cosmetic exclusions written into their homeowner’s policies and clients […]
What is Actual Cash Value
In the insurance business, property is insured for actual cash value or replacement cost. It’s critical that individuals know which method they’re insuring their property under or they could find themselves coming up short if they have to make a claim. Actual Cash Value Actual cash value will pay policyholders what their property is worth […]