There’s no lack of insurance out there, but how do you know if you’re buying the right policy to insure your valuables? Three of the most popular types of insurance include cash value, fair market value and replacement cost. If you’re not sure of the difference, you’re not alone. Here’s what you should know to prevent a headache–and heartache–should you need to file a claim.
What Is Cash Value Insurance?
A cash value insurance policy insures an item such as a house based on the item’s actual cash value at the time of loss. An item’s cash
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