What is the difference between “actual cash value” & “replacement cost”?

What is the difference between ACV and RC?

Covered losses under a homeowners 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 reimburse […]

What should I consider when purchasing homeowners insurance?

There are a number of factors you should consider when purchasing any product or service, and insurance is no different.

Below is a checklist of things you should consider when you purchase homeowners insurance:

  • Determine the amount and type of insurance you will need. The coverage limit of your house should equal 100% of its replacemen […]

How can I lower the cost of my homeowners insurance?

There are a number of things you can do to lower the cost of your homeowners insurance.

The easiest thing to do is request a comprehensive review of your policy and your needs from Greene Insurance.

It’s not surprising to find quotes on homeowners insurance that vary by hundreds of dollars for the same coverage on the same home. When you shop, be […]