Floyd County, Iowa | Boone & Crockett - 11/6/2023 23:50
the actual replacement cost has nothing to do with replacement cost insurance. I just means insurance company wii pay stated value on a total claim, not depreciate the property.
You might want to add that you have to rebuild to get the replacement value. If you just take the money and don't do the repairs/replacement, you only get the depreciated price. The company will initially pay you the depreciated price until reconstruction is done, then pay you the rest upon completion (to ensure that the property is rebuilt). This from my agent. |
Home Insurance 67.5% Increase
