Flood insurance is a type ofproperty insurancethat covers a dwelling for losses sustained by water damage, specifically due to flooding. Floods may be caused by heavy or prolonged rain, melting snow, coastal storm surges, blocked storm drainage systems, or levee dam failure. ...
To compare, an HO-3 policy includes liability coverage, covers your dwelling and other structures on an open-peril basis and offers financial protection for your personal property from 16 different named perils. A FAIR Plan home insurance policy can be modified with these endorsements, but doing ...
Instead, your insurer will calculate the depreciated value of the laptop. If the company calculates the laptop’s actual cash value at around $1,200, that’s what you’ll receive from your insurer, minus your deductible. If you have ACV coverage and would prefer full replacement coverage ...
Home insurance policies have a few different ways of compensating you for damage:actual cash value (ACV) and replacement cost value (RCV). You may have the option to choose between these settlement types, or you may automatically be given one or the other. Understanding them is important, tho...