Tag: replacement cost
Overtime, whether you are a commercial property owner or homeowner or both, your property probably has increased in value. Though this is good, you may not have the right amount of insurance coverage now. This is where inflation guard comes into play.
Let’s say your home was broken into last night. Though no one was hurt, your big screen TV was stolen. Luckily, you have homeowner’s insurance. When you go to make a claim, insurance companies have several methods to calculate the amount it will pay you for that loss. Two of these methods are replacement cost (RC) and actual cash value (ACV).