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How much do you know about your homeowner’s insurance policy? 🏡
Insurance can be confusing and overwhelming—but taking the time to ensure you have the coverage you need can save a lot of heartache.
One of the most important factors to understand is how you will be reimbursed for a covered loss. There are two primary coverage options:
đź’°Replacement Cost – Reimburses you for the current cost of rebuilding, repairing, or replacing your damaged property
đź’°Actual Cash Value – Reimburses you for the replacement cost minus depreciation, which means the reimbursement amount will be reduced to account for the property’s age and typical wear and tear
While a policy with Replacement Cost coverage is typically more expensive, it offers a higher level of protection against loss.
Are you in the market for homeowner’s insurance? Contact us for a referral to a trusted insurance broker who can explain your options.
📲 (617) 694-6024
📧 brad@c21metrowest.com
