Home insurance typically provides some degree of coverage for the dwelling (plus attached fixtures and structures), personal property of the occupants, liability and living expense if you need to be relocated during repairs.  Some folks assume that if you have homeowners insurance and disaster strikes your house, the insurance will pay to have your home rebuilt and refurnished.  In actuality, the industry terms within your policy dictate how much you will get paid. The following terms will all offer different payouts:

Replacement cost – coverage that will pay for replacement up to the limits stated in your policy

Guaranteed replacement cost – unlimited coverage to replace as long as you have followed the company’s guidelines

Extended replacement cost – replacement up to the limits stated in your policy plus an extra predetermined percentage

Actual cash value (ACV) – the replacement cost minus depreciation

Read our blogs for more interesting tips or just give us a call and talk to an expert today.

UNC Chapel Hill Alumnus Reflects on Sports Shaping His Career

2018-04-09T11:39:13+00:00April 9th, 2018|Business Insurance, Homeowners Insurance|

Producer Peter Dell'Olio recalls the lessons he learned as a young athlete and how they stuck with him through adulthood. It all started on the lacrosse field according to Garden City native Peter Dell'Olio. He was a captain for Garden City High School lacrosse team during one of those years [...]

Coach Mark Wilhelm Brings Risk Management Career to Darien

2018-04-05T17:39:58+00:00April 5th, 2018|Business Insurance, Homeowners Insurance|

If your child has been involved in Darien Youth hockey in the past decade, you probably know Coach Mark Wilhelm. He currently coaches U10 and U18 but he has been involved with various functions and readily admits that much of his free time is devoted to this passion. Mark entered [...]

Builder’s Risk Insurance Guide

2017-10-20T07:35:51+00:00October 20th, 2017|Homeowners Insurance|

A Guide to Builder’s Risk Insurance by Daigle & Travers, Darien, Connecticut (203) 655-6974 Builder's risk insurance, also known as Course of Construction, is a type of policy that protects an insurable interest during construction, repair or renovation. During the process of construction, an owner, general contractor and subcontractor have [...]

Chimney Cleaning: My Vacuum Hose Is Not the Same as a Chimney Sweep

2017-10-13T18:02:05+00:00October 13th, 2017|Homeowners Insurance|

By Nina Josko If you’re anything like me, being told that I should do something is never a sufficient enticement for me to actually do it. Barring moral obligation, a chore needs to have a fact-based necessity or provide entertainment to be considered. As homeowners, we are tasked with a [...]

Homeowners Insurance: What do I have? What do I need? Do I really need guaranteed dwelling replacement cost?

2017-09-25T19:26:58+00:00September 25th, 2017|Homeowners Insurance|

Home insurance typically provides some degree of coverage for the dwelling (plus attached fixtures and structures), personal property of the occupants, liability and living expense if you need to be relocated during repairs.  Some folks assume that if you have homeowners insurance and disaster strikes your house, the insurance will [...]

Hazard Insurance Guide

2017-08-18T15:54:41+00:00August 18th, 2017|Homeowners Insurance|

A blog about hazard insurance by Daigle & Travers, Darien, Connecticut (203) 655-6974 What is Hazard Insurance? Hazard insurance is not a separate type of coverage from a homeowner’s insurance policy. Rather, it is synonymous with a homeowner’s policy, and it will provide protection for the structure of your home.  [...]