Your home is probably the most expensive purchase you will make in your lifetime. To protect this important asset, you want to ensure you have the best homeowners insurance policy in place – with the highest level of protection – at a reasonable price. Your mortgage holder will, in most cases, require you to have this insurance, but you have options. At PrairieOne Insurance Agency, LLC in Plainfield, Illinois, we work with our local clients to identify the homeowners insurance policy that will best protect you in a wide range of unexpected events.
Replacement Cost or Actual Cash Value
What is the difference between Replacement cost (RCV) and Actual Cash Value (ACV)? If you have Replacement Cost Value (RCV) coverage on your property, your policy will pay the cost to repair or replace your damaged property without deducting for depreciation.
If you have Actual Cash Value (ACV) coverage, your policy will pay the depreciated cost
to repair or replace your damaged property. Sometimes, insurance companies can give you replacement costs to your property but not for your roof., because roof is old., so they give actual cash value on the roof. Make sure you know the difference!
Protect Your Investment
When life throws you a curveball and your home is damaged, your homeowners policy will suddenly become extremely important. Most people have not taken the time to read the small print on a policy, and even if they try, the legalese can be difficult to understand. At PrairieOne Insurance Agency, LLC, we do the heavy lifting for you. We explain what the policy means in plain language, and how one policy may be better than another.
For example, will your personal possessions be replaced? Are you protected against vandalism or theft? Will you have access to funds for accommodations if your home has become unlivable? What if someone was to get hurt on your property? How much will you be paying out-of-pocket for your deductible? Let one of our local agents work closely with you to find the best homeowners insurance plan to suit your individual needs.
You may have other structures such as a boat dock or tool shed that needs to be protected. There are many different types of coverages on a homeowners policy, and it’s crucial that you understand all aspects of your policy.
Protect your greatest investment with a homeowners policy that makes sense. Call today and speak with one of our friendly staff to schedule an appointment at a time that is convenient for you. We are always happy to review your current homeowners insurance policy and help you discover whether there is better coverage available at a lower cost. It is nice to know you have a local agent to call whenever you need help. We live and work right here in Plainfield, and are always only a phone call away when you need us.
