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. For example, the following terms will all offer different payouts: replacement cost, guaranteed replacement cost, extended replacement cost or actual cash value (ACV). The best way to navigate the fine print of your policy is with an experienced agent who has your best interest in mind. At Daigle & Travers, we pride ourselves on being those kinds of agents.