Kevin Woods - Hassett Insurance

Many homeowners are surprised to learn there’s a big difference between a policy that covers “replacement cost” versus “actual cash value.” Replacement cost coverage helps pay to repair or rebuild using today’s material and labor costs, while actual cash value factors in depreciation—meaning you could receive far less than what it actually costs to replace damaged items or parts of your home.

That difference can become very important after a major loss, especially with today’s rising inflation & costs. Discuss with your private broker today.