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Actual cash value and replacement cost are two insurance coverage concepts that are not fully understood by the general public. Read on for information on how these terms relate to auto and commercial insurance coverage.

Actual Cash Value

Actual cash value (ACV) is the monetary value assigned to property or the process by which that value is obtained. It is also defined as depreciation subtracted from the replacement cost. ACV policies are preferable in insurance coverage cases of appreciation rather than depreciation.

Replacement Cost

Replacement cost considers the initial value of the property upon purchase. The omission of deprecation allows more money to compensate for lost electronics and cars, making replacement cost policies great for home and auto insurance coverage.

Which Policy Is Best?

With homeowners insurance coverage, a replacement cost policy is usually ideal. When you are looking to replace belongings that were lost years after purchase, the items will have depreciated, making them nearly impossible to truly replace. For example, a flat screen smart TV that you purchased for $1000 years ago may only be worth a few hundred dollars now. Imagine searching for a similar TV today with $500 or less to spend.

Replacement cost policies also work well for auto insurance coverage. If your agent needs to find a replacement cost for your Honda that was new when you purchased it, then he or she might check the prices of similar Honda models that are new now.

Some things, like sports memorabilia and fine art, get better with time. If you own rare items for which a replacement cost would be difficult to find, consider an ACV policy. You can even insure your irreplaceable items with a separate ACV commercial insurance coverage floater that supplements your replacement cost homeowners insurance coverage.

In this day and age, it is still possible to encounter people who many misconceptions about obtaining basic insurance coverage. It doesn’t matter whether they own their house or not, these adults carry neither homeowner insurance or renters insurance coverage. If most states didn’t require auto insurance, they would probably drive uninsured as well.

Choices abound for consumers

The uninsured are usually concerned with how much insurance coverage they need and how much their monthly payments will cost. While many people still believe they have no choice in the matter, they are in fact sitting in “the drivers seat” when it comes to picking out their coverage. This is true of insurance policies purchased from independent insurance agents, as well as insurance companies who solely operate online.


Auto insurance

For that person who needs to pay a lower monthly premium, a higher deductible amount can be arranged. However should an unfortunate incident occur, you might have to pay for any damages later on. Conversely if one wishes to avoid out-of-pocket charges in advance, a higher monthly premium leaves you free from worry.


Your property is important

Having homeowner insurance is often a necessity, especially for those homeowners who are currently paying off a mortgage to a bank or other lending institution. In the event of damage or a burglary situation, renters insurance coverage will protect residents of apartment buildings too. Rest assured, that a full range of choices are always left up to the policy holder to decide.


Business insurance

Small business owners definitely need to insure their companies, in much the same way as their larger corporate counterparts. With business insurance, losses can be recovered quickly. No matter what your company sells or manufactures, gambling with your way of making a living is a dangerous thing to do.

An Occupation Can Affect Auto Insurance Premiums

Your occupation could affect the rate for your auto insurance coverage. There is published information about the risk factors that are associated with different occupations. Those auto accident statistics are used to determine the amount for an auto insurance premium. Some occupations are recognized as being associated with fewer auto accidents than other high-risk occupations because the employees will be exposed to fewer situations that could result in an accident.

Risk Factors

A professional truck driver will travel to various cities and could be exposed to dangerous driving conditions. There could be heavy rainstorms or icy snowstorms that may cause a vehicle to hydroplane or to slide across a roadway. The weather conditions will affect the risk factors. The number of miles that are driven each day are also important when determining the risk factors for being involved in an accident. A person who only drives 10 miles each week may not encounter very serious problems.

Insurance Premiums

An insurance premium is calculated for each driver. The amount of the premium should reflect the influence from the potential risks that may force an insurance company to pay an amount for a claim. A dangerous driving situation should have a higher risk factor. There should be a lower risk factor for safer driving conditions such as paved roads that have streetlights.

Information From an Insurance Agent

You should speak to your insurance agent when you change your occupation because you may be eligible for a lower monthly premium. Your auto insurance coverage would remain the same but would have a lower monthly cost. The published information about auto accident statistics is a business tool that can be used to control costs. You should stay informed about different insurance rates and purchase an auto insurance policy that will protect your personal assets.

Spring Has Sprung!

March 17th, 2016 | Posted by Brenda Snow in Uncategorized - (0 Comments)

The spring time weather conditions are usually warm enough for performing inspections and for completing home repairs, which will help to prevent more damage. The roof, downspouts, gutters, windows and doors should be inspected. The heating and air conditioning systems should be checked for damage and for blocked vents. The spring season is also a good time for reviewing the information about homeowners insurance coverage.


Shingles and roofs can be damaged by snowstorms. Water could be trapped under a layer of ice and then forced into tiny crevices. The spring time weather conditions will promote the growth of mold and mildew while also increasing the likelihood for more water damage. Gutters and downspouts may be full of debris. The spring rainstorms will increase the severity of any problems. The terms for the homeowners insurance coverage should adequately cover the costs for most major repairs.

Heating and Air Conditioning Systems

A warm spring day will provide excellent weather conditions for turning off the furnace and for inspecting for problems from corrosion or debris. The vents, air ducts, connections and air conditioning unit should also be inspected for damage. Homeowners should have adequate insurance coverage for damage to an air conditioning system. The insulation that is around windows and doors can slowly deteriorate, which will increase the rate of heat transfer.


There could be permanent water puddles on driveways or on lawns, which are caused by a broken water pipe cialis site officiel. The coatings on walkways and on driveways may have been affected by snow and ice. Any cracks should be repaired, which will help to control future problems. Extensive damage can be protected by an insurance policy. A home is an investment that will require regular maintenance procedures. Homeowners should have insurance coverage for controlling the future costs for serious problems.

Insuring Those Fun Times With Recreational Insurance

Recreational vehicles can be worthwhile investments for anyone who loves to explore the open road, have fun on challenging terrains, and spend entire days riding outside. There’s nothing quite like the thrill of riding on a vehicle with open sides, making for fun memories with friends and family. However, as fun as these “toys” may be, they don’t come without risk. Your exposure to liability is very real whether you, a friend, or family member were to cause an accident. This could result in spending a lot of out-of-pocket cash on damages other expenses that otherwise would have been covered by recreational insurance.


Even if you’re a safe driver whether you’re on a dirt bike or a golf cart, that doesn’t mean that other drivers are as well. To protect yourself from liability from an accident that could potentially put you in debt, dirt bike insurance, atv insurance, and golf cart insurance are all necessities. These policies provide you with insurance liability that protects you in the event of an accident, giving you peace of mind no matter who is driving your recreational vehicle around.


Playing on these outdoor “toys” can sure be a lot of fun during all months of the year, but it’s incredibly important to get yourself insurance liability coverage first. You’ll find that atv insurance, dirt bike insurance, and golf cart insurance are all very affordable, especially for the peace of mind that they offer. What’s even better is that you can choose the limits to your recreational insurance, so you can be in control of your policy. With this in place, the next time you take your sport car out you’ll know you have all the protection that you need.

Get A Grip!

March 3rd, 2016 | Posted by Brenda Snow in Auto Insurance - (0 Comments)

Maintaining your vehicle is a vital part of automobile ownership. Second only to carrying up-to-date registration and insurance coverage, proper maintenance can extend the life of your vehicle up to 100,000 miles. Responsible drivers know the importance of changing oil, bulbs, and the various filters on a vehicle. They take the extra steps— use premium oil, detail their vehicles, and carry extras like auto travel insurance and car club memberships. To even the most responsible drivers, however, tires are a mystery.


Your tires could be the most important maintenance item on your vehicle, with inadequate tire treads producing disastrous—and sometimes deadly—results. Learning about tread patterns, tread rubber, and tread blocks will make sure your next tire decision is your best tire decision.


Choosing the right tires for wet weather driving can save your life by preventing accidents, and even lead to lower rates on your travel insurance and auto insurance coverage. When looking for a quality tire for rainy weather driving, the three most important considerations are the tread block itself, the depth of the grooves, and the direction of the tread pattern.


The part of the tire that makes contact with the road is called the tread block. It is important to select a tire with a tread block made of soft rubber. Hard treads, often found in snow tires, have a smoother surface than soft tread tires. This makes them a poor choice for wet weather driving, because they are less capable of gripping the road surface. This causes tires with harder treads to provide less traction when you need it the most.


The tread block of a quality wet weather tire will contain deep groove rings that act as moisture channels. These grooves are the first line of defense when it comes to rainy weather driving, and displace water to prevent hydroplaning. To keep the water from getting trapped in the grooves, tire treads designed with wet weather driving in mind also have smaller grooves on the sidewall known as sipes. Sipes wick water away from the wheels, allowing the tire to make better contact with the road. Along with additional design grooves, these slits make up a tire’s tread pattern.


For maximum wet weather safety, it is important to select a tire with a unidirectional pattern. A unidirectional pattern will release water in one direction only. This clears moisture away more efficiently and is extremely effective in preventing hydroplaning.


With the highest quality tires tied to high prices, it’s a good idea to carry auto travel insurance for life’s emergencies. Standard insurance coverage is required, but the optional travel insurance can make unexpected high-cost repairs painless. With the high risk involved in rainy weather driving, auto insurance coverage ensures you and your vehicle will be taken care of.

What is Gap Coverage

February 25th, 2016 | Posted by Brenda Snow in Auto Insurance - (0 Comments)

The acronym GAP refers to “guaranteed auto protection” insurance that is available when buy or lease a vehicle. If while making monthly loan or lease payments, a consumer becomes involved in a motor vehicle collision, standard Auto Insurance overage pays a major portion of the repair bill. A problem arises if the vehicle is considered totaled beyond the value of the vehicle and a consumer owes more on the loan or the lease in comparison. Auto GAP coverage insurance makes up the difference.


Vehicles begin depreciating upon leaving the car lot. The rate of depreciation continues every year thereafter. If a consumer does not apply a down payment or applies a small down payment at the time of purchase, they put themselves at risk for owing more money for a longer period of time. The rate of depreciation thus occurs at a faster rate than a consumer is able to pay down the loan or lease.


The majority of automotive dealerships leasing vehicles today include auto gap coverage insurance. The cost varies between companies and may range between $500 to $800 or more, which includes the lease interest. However, if a dealership requires a lease but does not offer the GAP auto insurance coverage, consumers then have the opportunity to shop around for the best deal. Depending on the company chosen, rates may be as low as $200. Nevertheless, in order for consumers to get the most out of GAP coverage, certain conditions must be met.


  • Read and understand the auto GAP coverage insurance. Know the terms of the loan or lease.
  •  GAP policies may not pay out if the consumer does not have continual collision and comprehensive Auto Insurance coverage.
  •  In the event that the vehicle becomes totaled in a collision or is stolen, follow the stipulations established by the auto insurance company, which may include continuing loan or lease payments.

It’s Your Business!

February 18th, 2016 | Posted by Brenda Snow in Business Insurance - (0 Comments)

It’s Your Business – Protect It!

If you’re a business owner, you’ve probably heard how importance insurance coverage is. It really can’t be overstated however, because without business insurance you’re putting yourself, your livelihood, and the livelihood of your employees at risk.


We live in a litigious society, and as unfortunate as that may be, it’s very important to protect yourself with commercial business insurance. Assuming anything goes wrong on the job site, having a proper plan and coverage could save your business from having to spend thousands of dollars – if not hundreds of thousands of dollars – on a situation that could have been avoided by having insurance coverage.


The advice to get proper business insurance isn’t just for brick and mortar establishments either. If, like so many people do in this new era of digital communication, you run an online business, you may wish to consider getting online business insurance. Speak with your agent, but this will generally protect you from common issues faced by all successful internet-based businesses, such as data theft, fraud, and more. You aren’t fully protected if you don’t have online business insurance.


Think about it this way. You insure your home, your vehicle, and likely even yourself (via health or life insurance). Your business is perhaps one of the most important aspects of your life – so why wouldn’t you insure that too? Many affordable options are available for businesses ranging in size from start-up to fully fledged corporations with multiple employees.


Consider your options and do your homework. This is part of owning a successful business – in fact, most business owners consider commercial business insurance as simply one other aspect of their mandatory operating overhead. Do the right thing for yourself, your family, and your employees by finding a coverage plan that works for you and your specific needs.

Starry, Starry Night

February 11th, 2016 | Posted by Brenda Snow in Auto Insurance - (0 Comments)

Many people have a hard time with night driving. While it is a normal to feel out of sorts while driving at night, it can be a real hazard.

Vehicle death rates are three times higher at night than they are during the day. Without sunlight, color pigmentation, depth perception and peripheral vision all decline. Strict focus on the road and on other drivers are keys to successful night driving.

Here are some other important pointers to make driving at night safer.

1. Turn headlights on one hour before dusk and an hour after dawn to increase the visibility of your car.

2. Make sure your headlights are properly aligned so oncoming traffic can be seen better.

3. Anti-reflective coatings on glasses can cut down on glare and lenses developed with wavefront diagnostic technology can reduce star bursts, glare, halos and other visual aberrations.

4. Keep the interior windshield clean to reduce glare.

5. Use low-beams in foggy weather.

6. Be extra cautious at intersections. Most accidents among the older population occur at intersections due to a failure to yield, especially when making left turns.

7. Don’t ignore eye fatigue. If you need to, park the car and take a brisk walk or take a nap.

8. Don’t drive too fast.

9. Check your area for classes for night driving. Classes for night driving can give you real, hands on techniques for driving safely under the stars. Auto driving safety courses should be seriously considered if you’re having a very difficult time driving at night. These auto driving safety courses have saved many lives.

10. Visit your eye doctor at least once every two years or more often if you have a specific issue or condition.

11. Do regular maintenance on your car.

12. Of course, make sure that your auto insurance coverage is up to date. Auto insurance coverage regulations differ for each state so check locally to make sure you have exactly what you need. Your insurance coverage will likely cover:

Medical payments for the one with insurance coverage,
Property damage caused by the insured,
The insured vehicle,
Third parties,
The cost to tow the car and more.

Everyone wants to feel safe, not only from criminal mischief but from accidents as well. A moment of distraction can lead to a lifetime of regret, and nowhere is that more true than with home window safety. Luckily, it’s not difficult to dramatically improve home window safety. Doing so may not only save a life, but also cut homeowner insurance policy costs.


One simple fix is to not place furniture too near a window. Children and pets both enjoy watching the world go by, but they lack an adult’s common sense. Even a window with a screen is a danger to a curious child. Though insurance coverage may take care of the monetary cost of an injury, nothing can heal the emotional damage from losing a child to a preventable accident.


In fact, even with strategic furniture placement a better option may include installing bars. Placing window guards with emergency releases on the window will not only eliminate the threat of a child falling out, it will reduce the chances of a burglar breaking in. The secondary benefit is that either renters insurance coverage or homeowner insurance coverage will likely go down in price with this additional security measure in place. The emergency release means that the window can still be used as an escape route in case of fire, something which may also be required to maintain homeowner insurance coverage.


Another way to increase window safety is from the outside. Trimming back overhanging branches reduces the chance of a broken window during a storm, a fix that can be expensive even with insurance coverage. Though windows broken by acts of god are often covered by homeowner insurance, the deductible can add up to hundreds of dollars. There is also the risk to both the pets and people in the home from the broken glass.


Trimming back trees, moving around furniture, and installing window guards are quick and easy fixes to a very real safety hazard. It will provide peace of mind to anyone in the home, while also saving money in the long term via the homeowners or renters insurance coverage. In a world full of unavoidable dangers, it is nice to find a problem with such an easy solution.

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