View Homeowners Insurance Policy Coverage Background. Actual cash value, replacement cost, and extended replacement cost/value. Types of home insurance coverage.
Homeowners Insurance from image.slidesharecdn.com The standard homeowners insurance policy is fairly complex, but buying one doesn't have to be complicated. I will go over the coverage of your policy and explain what each of them mean. Actual cash value, replacement cost, and extended replacement cost/value.
It is typically the largest asset on the family originally, a standard homeowner's policy covered only the risk of fire.
The first three components cover you against loss if there you suffer property damage due to a covered event, such. Work with your agent to get the coverage you want—and nothing more—and make sure what you've agreed to actually ends up in the policy. Home insurance policy includes various types of coverage. That way, if you have to make a claim because of an unfortunate loss.
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