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  • Writer's pictureLaurie & Shapoor

Understanding Homeowners Insurance

How much do you know about your homeowner’s insurance policy?

Insurance can be confusing and overwhelming—but taking the time to ensure you have the coverage you need can save a lot of heartache.

One of the most important factors to understand is how you will be reimbursed for a covered loss. There are two primary coverage options:

Replacement Cost – Reimburses you for the current cost of rebuilding, repairing, or replacing your damaged property

Actual Cash Value – Reimburses you for the replacement cost minus depreciation, which means the reimbursement amount will be reduced to account for the property’s age and typical wear and tear.

While a policy with Replacement Cost coverage is typically more expensive, it offers a higher level of protection against loss.

Are you in the market for homeowner’s insurance? Contact us for a referral to a trusted insurance broker who can explain your options.

[Laurie Fearon: 514-575-7984] [Shapoor Hoghooghi: 514-295-8787]


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