You have been lucky all summer long that the summer thunderstorms have been minimal. When the summer season starts to wine down, one last thunderstorm hits the radar. You think you are good, right? Nothing has happened all summer, so what are the chances something will happen now? Expect when the old tree in your backyard gets struck with lightening and falls on your house. Now what?
How much will this cost to get fixed? Will the money have to come out of pocket or does my home insurance plan cover the damage? These are all questions that could be running through your mind when an extensive damage is done to your home. Take a look at your home insurance policy and see what it actually covers. If your home insurance policy covers Actual Cash Value (ACV) then you are not going to be reimbursed for all the damages done to your home. ACV means that the insurance claim will depreciate over the years based on the age of your home. Key word, depreciate. This depreciation could an amount up to 1% a year. This could not even cover half the damage cost depending on the age of your home.
Replace your home insurance policy ACV plan with replacement cost. Replace cost means that in case of home damage, insurance will pay the full replacement price at today’s cost. Replacement cost home insurance will prevent you from spending money out of pocket incase damages occur. At Spivey Insurance Group, we keep the customers in mind and highly recommend Replacement Cost home insurance policies. In the long run, this will keep money in your pocket if an extensive damage occurs at your home.
Let Spivey Insurance Group take care of all your needs. Give us a call today at 704-861-4460 or visit us on the web.
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