Taking a closer look at home insurance replacement cost and actual cost value When purchasing home insurance, you will be given the option to choose which type of replacement policy is the best suited for your needs, a replacement cost policy or an actual cost value policy. It is important to understand the difference between the two policies to ensure you are getting the coverage that is going to fit into your budget as well as provide sufficient coverage for you home and personal belongings. Replacement Cost Replacement cost means…
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Homeowners insurance premiums in Oklahoma are rising for many reasons
Many residents of the state are wondering why their rates are skyrocketing. Homeowners insurance policyholders in Oklahoma are now facing premiums that have risen by ten percent, and many are wondering what is behind this significant increase. In this case, the traditional explanations that would justify a rate hike don’t seem to apply. As materials and labor remaining about the same due to the current economy, and inflation is low – according to the government – many are struggling to see what could possibly be behind a homeowners insurance rate…
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