Sentences with phrase «coverage on a replacement cost basis»

With personal property coverage on a replacement cost basis, loss of use insurance to pay for your hotel, and liability coverage should you cause another person bodily injury or property damage, Effective Coverage has got you covered.

Some policies provide roof coverage on a replacement cost basis.

Some policies or endorsements provide coverage on a replacement cost basis.

With personal property coverage on a replacement cost basis, loss of use insurance to pay for your hotel, and liability coverage should you cause another person bodily injury or property damage, Effective Coverage has got you covered.

Not exact matches

Your dwelling coverage is calculated based on the replacement cost of your home.

Buildings are covered for replacement cost, but coverage for personal property is available on an actual cash value basis only.

Insure the property on a replacement - cost basis but make sure the coverage limit is adequate.

Just as with building coverage, you should determine the amount of coverage you need on a replacement - cost basis for your shop equipment, office furniture and inventory.

The decision on whether to base your personal property coverage on replacement cost or actual cash value is always made at the time of application.

By contrast, guaranteed replacement cost coverage pays out based on what a new item would cost to purchase at the time of the loss.

While many insurance companies offer «guaranteed» replacement cost coverage on an extended basis, they often restrict the amount the provider will pay to 25 % to 50 % above the policy limit.

With a typical homeowners policy, after a loss you would be reimbursed based on your items» depreciated value (its original value minus depreciation for time, wear, damage, etc.), but with Contents Replacement Cost coverage, the value of any damaged or destroyed item is based on the cost of a new one with similar featuCost coverage, the value of any damaged or destroyed item is based on the cost of a new one with similar featucost of a new one with similar features.

Major factors in price estimation include location, coverage, and the amount of insurance, which is based on the estimated cost to rebuild the home («replacement cost»).

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.

Collision and comprehensive coverages pay you for vehicle repairs and replacement based on the cost of your vehicle, and if your vehicle is not worth more than you can afford to cover the coverage may need to be lowered.

Replacement cost coverage pays the actual costs to replace damaged or lost items, and ACV pays based on what the item was worth at the time of the loss.

This may be because home insurance policies are often believed to provide coverage based on a home's market value, as opposed to its replacement cost.

Buildings are covered for replacement cost, but coverage for personal property is available on an actual cash value basis only.

Rather than being on the hook for things like repair, replacement costs and even medical bills, you pay a car insurance premium to your insurance provider and they will help cover the costs based upon the coverage and limits you choose.

The insurance premium will be higher for replacement cost coverage, since the payout for the claim is based on the current cost of a new item.

Increased use of modern «component - based» estimating programs has also improved coverage adequacy, since true replacement cost values are now calculated on a risk - specific basis.

Commercial property insurance policies pay for losses based on either the replacement cost of an item (replacement cost coverage) or its actual cash value (actual cash value coverage), or even a combination of both.

The replacement cost versus ACV is a bit trickier — you might want to upgrade your coverage from ACV to replacement cost as the ACV will cover you for the damaged item based on its cost at that time.

Some carriers insure projects based on the expected replacement cost of the property once the project is completed, whereas others stair - step the coverage using the current replacement costs of the project.

Taking the example of a four - year - old TV, if you have Replacement Cost coverage, your compensation would be based on the cost to replace that TV with a brand new versCost coverage, your compensation would be based on the cost to replace that TV with a brand new verscost to replace that TV with a brand new version.

Guaranteed replacement coverage costs more but provides you with reimbursement to cover the full present - day cost of purchasing the item lost, whereas ACV coverage depreciates the loss based on the age of the item.

Full replacement or guaranteed replacement coverage pays out for losses based on the present day replacement cost to buy a lost item new on the market today.

ACV coverage bases reimbursement on depreciated value, while full replacement coverage pays out based on the purchase cost of a similar new item.

In general terms, replacement coverage gives you reimbursement covering the cost of buying a new item to replace the one lost, while actual cash value (ACV) coverage depreciates the value of the lost item based on its age and reduces payout accordingly.

Premiums for this type of coverage are based on replacement cost values, and not based on actual cash value.

Such coverage is often worth the extra cost, he said, because standard coverage provides payments based on the depreciated value of an item or improvement while replacement cost coverage provides the amount needed to replace each covered item at today's prices.

Even if the insurance you chose to purchase was only based on actual cash value and not on replacement cost coverage, you still would be much better off than you would with no coverage at all if you lost everything in a catastrophic claim.

Most policies written today use Full Replacement Value coverage which will pay for full replacement costs up to the limits of the policy, but some insurers still write policies for Actual Cash Value, which only pays you a depreciated amount for the losses based on the age and condition of the itemReplacement Value coverage which will pay for full replacement costs up to the limits of the policy, but some insurers still write policies for Actual Cash Value, which only pays you a depreciated amount for the losses based on the age and condition of the itemreplacement costs up to the limits of the policy, but some insurers still write policies for Actual Cash Value, which only pays you a depreciated amount for the losses based on the age and condition of the items involved.