Updated: Sep 26, 2018
We know home insurance can be confusing, but we would love to help you out. We specialize in making sure your home is properly covered. When you are looking around for home insurance quotes, the confusion triples!
Every Insurance company and agent quote homes differently. EVERY Insurance policy is different! That is why we believe it is important to review each quote with our customers. We know it is very difficult to find free time in your hectic daily schedule to find a time to sit down with us to review your policy each year. However, we highly recommend scheduling an annual policy review to ensure you are properly covered and fully understand your policy.
One important part of Mastroeni's article is the distinction between Cash value coverage and Replacement cost coverage.
Cash value coverage- This type of reimbursement typically comes with more affordable policies, but it also comes with the smallest payout. In this, the insurance company will issue a payment for the cost of replacement, minus a deduction for appreciation.
Replacement cost coverage- These policies will replace your items without deducting for appreciation. However, you'll only receive coverage up to the policy limits. If your costs go beyond that, you could still end up paying out of pocket.
We recommend to always have replacement cost coverage when it is available! If you have any questions or would like to get a home insurance quote please click here.