[Healeys] Insurance 101

Richard Ewald richard.ewald at gmail.com
Tue Mar 15 10:51:16 MST 2011


Umm this is incorrect in several ways.
House rebuilding costs don't depreciate they go up. I think you are confusing
the concept of coinsurance with ACV.
I'm at work so I don't have time for a deeper explanation now but I will be
happy to fill you in later.
Rick

Sent from my iPhone

On Mar 15, 2011, at 10:00, Bob Johnson <bjsbj8 at gmail.com> wrote:

> ...and many people don't know that their homes (and contents) are
> insured using actual cash values. The house that you bought 30 years
> ago for 100,000 has "depreciated" to 50,000. It's market value is now
> 400,000. It burns, you get 50,000. Yikes!
>
> Bob Johnson
> BJ8
>
> On Mon, Mar 14, 2011 at 9:54 PM, HealeyRick <healeyrick at yahoo.com> wrote:
>> Here's a good discussion of the differences among "Actual Cash Value",
> "Stated
>> Amount" and "Agreed Value" policies:  http://www.grundy.com/insurance101/
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