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General Insurance FAQs
What is the difference between "actual cash value" and "replacement cost"?
Covered losses under a personal possessions or household contents policy can be paid on either an actual cash value basis or on a replacement cost basis. When "actual cash value" is used, the policy owner is entitled to the depreciated value of the damaged property. Under the "replacement cost" coverage, the policy owner is reimbursed an amount necessary to replace the article with one of similar type and quality at current prices.
What are the advantages to using an agent to purchase insurance?
By using an agent to purchase insurance, the policyholder receives more personal service. An agent with whom there is direct contact can be vital when purchasing a product and can prove absolutely necessary when filing a claim. As a local, independent agent we are able to deliver quality insurance with competitive pricing and local personalized service.
For more information please visit:- https://www.rrfinance.com/Insurance/General%20Insurance/Default.aspx