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Replacement Cost Value vs. Actual Cash Value When it Comes to Home Insurance

Wren Insurance Agency

At Wren, because we are protection minded, we always quote our home insurance policies using Replacement Cost Value (also known as RCV) on contents, versus Actual Cash Value (ACV). Now, due to a claim (tied to a weather event, fire, theft, etc.), it would take $1,500 to purchase that same couch today.

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Why is landlord insurance more expensive than home insurance?

Cover4LetProperty

At its simplest, therefore, a home is a home, whilst let property is a business asset. To understand why landlord insurance is typically more expensive than standard home insurance, it might be helpful to go back to the basics of insurance itself. So why is the one more expensive than the other?

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Insurance Coverage for Your Tiny House

Paragon Independent Insurance Agencies

Ensure your tiny house is insured against theft and damage. Begin by conducting a comprehensive home assessment, then select residential coverage to include in your insurance policy. Home Insurance Like any other residence, a tiny home is eligible for various types of home insurance coverage.

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Upgrades That May Require More Residential Insurance Coverage

Paragon Independent Insurance Agencies

Your residential insurance policy can list the items you invest in. The insurance coverage will protect against unforeseen damage and theft. If you need to file an insurance claim, the coverage you have purchased will handle the costs you are faced with while you are rehabilitating your property.

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Insurance Considerations for Home-Based Businesses

Mark Jackson Insurance Agency

Home Office Desk by Ken Tomita The rise of home-based businesses has been one of the most significant shifts in the modern work landscape. While operating a business from home offers convenience and flexibility, it also necessitates careful consideration of insurance needs.

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10 Factors That Affect Homeowners Insurance Premiums in Florida

TGS

Home Security and Safety Features Homes with security systems, fire alarms, deadbolts, and even storm shutters can often earn discounts on premiums. These features reduce the risk of significant damage or theft, meaning less risk for the insurance company. Opting for a higher deductible can lower your monthly premium.

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How Home Renovations Can Affect Your Homeowners Insurance Policy

TGS

On top of that, you run the risk of having a lapse in your home insurance coverage, as some renovations call for a different insurance policy entirely. What Will a Standard Home Insurance Policy Cover During Renovations? For example, standard home insurance will not cover theft or vandalism during construction.