by Andrea
Know your assessment: There are two types of assessment, Replacement Cost and Actual Cash Value. Replacement cost is the cost to restore or repair your home with equipment of similar alike type and/or quality. Actual Cash Value appraisal takes the replacement cost and applies reduction. Replacement cost valuation is more encouraging. Know your threats: You should be familiar with which perils are covered under your policy. There are two basic types of policies; named perils and all risk. Named perils, as the title signifies, represent the only perils covered are those named on the rules. All danger, alternatively, conceals all perils not including for those rejected from the policy. All dangers, being the broader and more sympathetic of the two cost more, but signifies the additional cost.
April 10 2008 09:29 am | General Info