Insurance Claim Survival TIP #2 - Real Cost Value
Do you ever ask yourself why certain carriers can offer cheaper rates than their counterparts? As a discerning local homeowner, make sure you understand what is and what is not covered in the insurance policy that you purchase for your Tacoma area property. One consideration that can have significant consequences at the time of an insurance claim for water or fire damage to your residence is the difference between RCV and ACV coverage.
Take two minutes to watch this video created by Puyallup, Washington-based contractor ARES Restoration. The Pierce County construction team has years of experience working with home and business owners to restore their property following damages from incidents such as water, fire, wind, and other disasters.
What type of insurance do you have?
In brief, there are two primary policy types for property insurance and it is important to know the difference between actual cash value, also known as ACV, and replacement cost value, also known as RCV.
Actual Cash Value (ACV)
Replacement Cost Value (RCV)
Read more on this topic from the ARES Blog
Helping Tacoma homeowners rebuild
We are not insurance claims policy experts but as restoration contractors, we have “seen a thing or two,” to borrow a claims phrase from an insurance advertisement. We want to help you avoid insurance claims horror stories. See our prior video on Keeping Good Claims Notes
ARES Restoration is a licensed, bonded, and insured general contractor based in Puyallup, Washington that specializes in the insurance claims process. Serving Pierce County residents and business owners with their insurance claim repairs. Our motto is, "Giving You Back Your Home." Contact us today about your damage repairs