Q. What should I do after an emergency or disaster?

Q. What is Next?

Q. Must I use a certain General Contractor to repair my home or business?

Q. What is covered, what is not?

Q. Who Pays My Deductible?

Q. Adjuster Here, Adjuster There, Who is Who?

Q. What is Actual Cash Value (ACV) & Replacement Cost Value (RCV)?

Q. What is subrogation?

A. What is Actual Cash Value (ACV) & Replacement Cost Value (RCV)?

There are two types of coverage for your property. One is replacement cost coverage and the other is actual cash value. Replacement cost coverage provides for a damaged item to be replaced for what it costs today, at a fair market price of equal kind and quality, regardless of when it was purchased.

Actual Cash Value provides for the compensation of the balance of the life expectancy of a damaged item. For example: your type and style of carpet has a 10-year life expectancy. Insured damage occurs when it is only 5 years old and it needs to be replaced. Your insurance company owes for only the unused portion of the balance of its life. Other parameters may also apply; your adjuster can explain this process in great detail.
Replacement Cost Coverage protects your property in today's market place. Please contact your agent and make certain that the coverage you have is the one that is best for you.