RCV or ACV. Get replacement cost value. You will thank me later. ACV, Actual Cash Value means you’ll get the value of the item now versus what it costs to buy a new one. So what that means is RCV is the way to go like and follow for more.

Three critical things to watch out for when it comes to flood insurance. First of all, make sure you get it. Even if you’re not in a flood zone, get the maximum coverage for your home and personal property and last submit a storm proof of loss no later than 60 days after you report … Continue reading “Flood Coverage Pitfalls to Watch for!”

It’s super important. A hurricane is just about to hit. What do you need to do? Make a list of all your personal property. Take a photo, take video, whatever you need to do to make sure all of that will be covered later when you make an insurance claim.

If your homeowner association enters into an agreement with a third party contractor to do some sort of work on the association property, it’s very likely that the association is responsible for any damage that happens as well as the third party contractor. Since they are both essentially part of the reason why the damage … Continue reading “My HOA Uses Third-Party Contractors. Who is Responsible for Damages?”

DP3 refers to insurance policies that are provided to owners that rent their property. The HO3 policy is for owners that are actually living at their property. It’s important because your insurance company will provide different coverages depending on the situation at the property. If it’s rented, or if you’re living there as the owner. … Continue reading “DP3 or HO3? Why Does It Matter?”