May 9, 2022
Have you taken an in-depth look into your commercial property insurance recently? The Consumer Price Index (CPI) jumped 7.9% over the last year and is the highest rate since January 1982. This inflation has led to increased construction costs, which could mean your current replacement cost coverage is no longer sufficient. What Determines Replacement Cost? …
May 5, 2022
Have you taken an in-depth look into your home insurance coverage recently? If it has been a few years since dusting off your policy and investigating, you may want to do so now. Recently, inflation has caused construction costs to increase which could leave many homeowners without adequate insurance coverage. What is your home’s replacement…
August 1, 2019
If we asked you what’s the difference between replacement cost and market value, what would you say? In case you don’t know the answer, we’re here to quickly clarify what these two insurance terms mean. Re-place-ment Cost Noun According to BusinessDictionary, replacement cost is defined as: “Current cost of replacing an existing asset or property…
