10/05/2026
Having insurance is one thing. Understanding what your policy covers and how it pays after a loss is just as important. 🏡⚜️
The right policy starts with how your property is used.
⚜️ Your primary home
⚜️ A rental or short-term rental
⚜️ A vacant property
⚜️ A home undergoing renovations
Each can have different coverage needs. If you’re moving, renting out a home, or renovating, let’s review your insurance before those changes happen.
Next, understand how a covered claim is valued:
⚜️ Actual Cash Value (ACV): Generally pays repair or replacement costs minus depreciation for age and wear.
⚜️ Replacement Cost Value (RCV): Generally pays to repair or replace with similar materials or items without deducting depreciation, subject to policy requirements and limits.
For example, if replacement costs $10,000 and depreciation is $4,000, the ACV amount would be $6,000 before your deductible. Replacement cost coverage could provide $10,000 before your deductible once policy requirements are met. Depreciation may initially be withheld until repairs or replacement are completed.
Your home, roof, and belongings may also have different settlement terms within the same policy.
Price matters. The policy type, coverage, and claim-payment terms matter, too.
Message me, and let’s review your coverage before you need to use it. 🪿
Brandon Katz | Goosehead Insurance
225.208.7516
