HOMEOWNERS INSURANCE POLICIES There are two basic homeowner insurance policies, replacement cost value (RCV) & actual cost value (ACV). Your insurance company will give you an initial payment of the total settlement minus your deductible, and minus depreciation (based on material age and lifespan). RCV policies are the best and most common, your depreciation is recoverable after work is completed and with your contractors invoice, leaving you out only your deductible. For ACV policies, the depreciation is NOT recoverable. We can help with these but the best advice is to get RCV insurance! Filing a claim against either type of policy WILL NOT directly increase your insurance rates! You are not “at fault” for a weather event. Insurance rates are on the rise and will go up or down if you file a claim or not. INSURANCE DEDUCTIBLE Just like paying your co-pay when going to the doctor, or having your car repaired at an auto shop after an accident, your homeowners insurance deductible is the part you agreed to pay in the event of a loss when you got your policy. There are fixed and percentage deductibles. Fixed meaning $250, $500, $1000 etc. per occurrance. Percentage deductibles are usually higher (1%-3% of your insured coverage A). If you’re not sure, we will be happy to review your policy with you and let you know how much it is. Speak with your agent and make sure you have a deductible that’s right for you. We offer deductible assistance options, choose one that works for you! 5200 Ridgeline Dr., Abilene, Tx.     Phone (325) 795 2447  Fax (866) 596 2189