Actual Cash Value vs. Replacement Cost
If your car’s totaled, most car insurance companies reimburse you for the actual cash value of your car, not the replacement cost. Let’s review the difference. Actual cash value vs. replacement cost Actual cash value (or ACV) is calculated by determining an item’s original value minus the amount it has depreciated after you bought it . Replacement […]
Why would I ever need car insurance if I don’t own a vehicle?
Did you know that vehicle ownership is actually declining, especially for people who live in urban areas? Many people now prefer to use a car-sharing service or just rent or borrow a car. The problem that arises is what to do for insurance in these instances where you don’t own a car, but use one […]
Why you should consider adding roadside assistance coverage to your auto policy.
Most insurance companies offer some sort of roadside assistance coverage as part of their personal auto insurance policies. What does this coverage actually provide, though? And, is it worth the cost? Advantages of Roadside Assistance Coverage By purchasing roadside assistance, most insurance customers can expect most of the following items to be included. For specifics, […]
