Posts made in August, 2018

What’s the Difference Between ‘Replacement Cost’ and ‘Actual Cash Value’ Insurance Policies?

Posted by on Aug 30, 2018 in Business Insurance, Franchise Insurance, Personal Insurance | Comments Off on What’s the Difference Between ‘Replacement Cost’ and ‘Actual Cash Value’ Insurance Policies?

The worst has happened: Someone stole your car and stripped it to pieces! Now, all you’ve got left are fond memories of your slick ride and an insurance policy claim to file. All you want to do is put this whole ordeal behind you, buy a new car, and never look back. But will your insurance payout cover the cost of that same car? Understanding “replacement cost” versus “actual cash value” when it comes to your policies is important. Replacement cost Replacement cost policies will pay out the cost necessary for a direct replacement of the item covered. So, for example, if your vehicle was a...

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Vehicle Telematics: Myths, Facts, and Benefits Every Driver Should Know

Posted by on Aug 16, 2018 in Personal Insurance | Comments Off on Vehicle Telematics: Myths, Facts, and Benefits Every Driver Should Know

Insurance companies have used vehicle telematics for about two decades now as a way to bring more transparency and accountability to auto policyholders. Telematics are most commonly associated with the little modules that plug into your car’s Onboard Diagnostics Port (OBD-II), which relay driving data to insurance providers. Today, many insurance companies offer plug-and-play solutions and even apps that eliminate the need for modules altogether. Common misconceptions Unfortunately, this technology has been met with a lot of confusion, and drivers have developed a number of widespread...

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