Homeowners Insurance

Is it a requirement in Georgia that you have full rebuild coverage & 50% of that for personal property for a home with a mortgage?

When it comes to rebuild coverage, limits are completely up to the mortgage company you go through and depend on what they require. Most insurance companies will not insure the home unless it is at full replacement cost.
Sep 15, 2021 Cumming, GA

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Renters Insurance

If you don't have a receipt for goods, do renters still get paid for property loss?

You can file a renters insurance claim without receipts, but you should keep an up-to-date inventory of your personal belongings with photos and get an appraisal for big-ticket items. Your insurance company will let you know what all would be covered under your policy and if you would be reimbursed actual cash value or replacement cost for property lost.
Jul 7, 2021 Fort Worth, TX

Homeowners Insurance

How do you establish the cost of replacement for homeowners insurance policies?

Similar to how individual companies have different underwriting methods to determine rates, every insurer figures their replacement cost for a home differently. Some use tax records, mortgage info, average property values, and other data.
Jun 15, 2020 Albuquerque, NM

General Insurance

Stated value vs replacement cost

Stated value coverage is used for vehicles that are worth more than the Kelley Blue Book value. It is what your insurance companies rates the vehicle, but not necessarily what they will pay you if your vehicle was totaled.
Feb 16, 2019 Austintown, OH

General Insurance Homeowners Insurance

What is the difference between actual cash value and replacement cost coverage?

There is a huge difference between the two valuation types when it comes to homeowners insurance. Let's use an example of a camera.
Jun 15, 2017 New Haven, CT
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