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Get the Most from Your Coverage

Why have more when you can have the most? The tips in this series show you how you can get the most out of your insurance.

Tip #1:  Get the Most by getting insured through a Quality Underwriter.

Sandhills Insurance Group works with world-class underwriters and reinsurers, because a tested underwriter can pay its bills, provide fast and efficient claim service, and is highly motivated to preserve its reputation and grow its business.

Tip #2:  Get the Most by Insuring to Value:

Don’t just look at the monthly premium amount to determine which coverage to buy; look at the coverage limits on your policy declaration pages.   Your home and property should be insured at least to 100% of its current value.  If you’re really smart, live large and add increased cost of construction coverage, to protect against unexpected rises in building costs.

Tip #3:  Get the Most by carrying Replacement Cost Coverage.

There are two methods applied to valuating damaged or ruined property: Actual Cash Value (ACV) and Replacement Cost (RC).  The contents portion of your coverage on the policy declaration pages will indicate either the ACV or the RC designation.  If it reads ACV, we need to talk.  ACV means the underwriter will depreciate the value of the insured property at time of claim.  That means you may only receive pennies on the dollar for your damaged or ruined items. On the contrary, with RC coverage, in the event of a loss, your insured items will be replaced at the full current value required to repair or replace with identical or like item in today’s dollars.