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After you’ve made a claim, the insurance company’s adjuster will inspect your home for damage and prepare an estimate. When you receive the insurance company’s estimate, you see that it lists two amounts for “RCV” and “ACV.” How much money do you have to make repairs? ACV is an abbreviation for “actual cash value.” ACV is the actual value of…

When natural disasters strike, they may cause various forms of damage to homes and apartments. Items inside of a home or apartment may also be damaged or lost in the aftermath of a storm. A standard homeowners or renters insurance policy in the U.S. will likely cover the cost of repairing a home. It will also likely help individuals pay…

The U.S. has been hit by an unusual number of severe thunderstorms this summer. For example, on Aug. 11, a hailstorm tore through Billings, Montana, shattering windows and punching holes in roofs. This sort of damage can cost hundreds or even thousands of dollars to repair, forcing many homeowners to file an insurance claim to recover their losses. Fortunately, there…

It was a beautiful, sunny day, but you noticed that clouds were starting to form. Just a few hours later, the sky was dark and the winds were picking up. Hail fell, heavy winds tore through the neighborhood and your properties were left damaged. Fortunately, they were still standing. As a property manager, you know how quickly a storm can…