Monday, March 27, 2017

Protect Your Hard Work And Investments With The Right Insurance Rather Than Rolling The Dice This Week at REI


Hello Everyone,

A few weeks ago we had an interesting discussion on insurance regarding Rebuild vs Actual Cash Value policies. There was the question with actual cash value as to whether you are effected by the minimum 80% of insured value penalty that you are subject to with your Rebuild policy. We also talked about, in the case of a total loss, whether or not you will get all of what you are insuring the property for with Actual Cash Value. Or will you just get a portion of it based on depreciated values of the house like you would with a Rebuild policy insuring it under the 80% rule.

We also threw around some ideas regarding what amount of insurance will make an insurance company want to defend you in a claim and what amount they will just go ahead and pay without a defense. Which often leads to you getting dropped by them and your premiums going through the roof with your new company as a result of your lost claim.

This week we have an expert coming to give us his perspective on how Farmers / Foremost Insurance would treat these various situations. Our sponsor Tripp Godsey will be with us to iron out the details. We will have an in depth conversation about builders risk, vacant policies, landlord protector, deductibles, umbrella policies, workers comp and renters insurance. We will talk about what it all means, what do you need, when do you need it, how do you know if you need it, etc.

It’s going to be a very informative meeting on protecting your investments. We’ll see you there!

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