Sentences with phrase «actual cost of rebuilding»

Endorsements are available to add by - law coverage to your policy, and some home more comprehensive high - end insurance policies will include by - law coverage, but if yours does not, this could be a major problem in the interpretation of what the actual cost of rebuilding will be, vs. the coverage in your replacement cost.

Not exact matches

The actual value of your home (which may be less than the cost to rebuild because of possible depreciation over time).

The new estimate appears likely to be far more accurate since it is based on actual experience in Western Europe where similar efforts have been pursued for a number of years and rates have increased rapidly where there has been extensive use of non-hydro «renewables,» and includes all the hidden costs such as rebuilding the electric grid that are so difficult to model using engineering studies.

Actual cash value may not cover the total rebuilding cost and your out - of - pocket expenses can quickly balloon to an unreasonable number.

Replacement value vs. actual cash value: A replacement value homeowners policy will cover the cost of rebuilding or repairing your home and restoring your personal belongings back to their state before a fire.

While both types of coverage help with the costs of rebuilding your home or replacing damaged items after a covered loss, actual cash value policies are based on the items» depreciated value while replacement cost coverage does not account for depreciation.

For example, with fire insurance, the amount you will pay depends upon whether you are buying «actual cash value» (market value of the home minus depreciation) or «replacement cost» coverage, which will cover complete rebuilding if needed.

A policy that covers replacement cost — rebuilding your home with new materials of similar quality — will be more expensive than one that pays actual cash value, which considers the wear and tear of your home as it currently sits.