We’ve all been there: you open your insurance company’s latest annual assessment, and lo and behold, your home insurance premium has increased. You may [...]
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What is Recoverable Depreciation in Insurance?
Depreciation refers to the loss of an item’s value over time and applies to most household possessions. For example, if you purchase a brand-new [...]
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Effective Age vs Actual Age
Effective age and actual age of homes are used by industry professionals but can be easily explained. How old your home (or structure) is, [...]
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Guide to Estimating the Replacement Cost of Farm and Ranch Structures
When determining the replacement cost of farm and ranch structures, you need an accurate estimate that can distinguish between the distinct differences in farm [...]
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Characteristics that Influence Replacement Cost of Agricultural Buildings
Estimating replacement costs for agricultural structures can be a daunting task because not only can costs vary widely based on numerous factors, but the [...]
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Calculating the Replacement Cost of New Home Builds
When determining the replacement cost of a new home, there are many factors to consider. Unlike older homes, new builds use current construction cost [...]
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How to Measure Your Home to Calculate the Gross External Floor Area
Estimating the value of your home and the costs associated with replacement or renovation can be challenging. One of the first steps is correctly [...]
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What is Functional Obsolescence?
Functional obsolescence refers to a decline in desirability or value of an item because of its decreasing utility, often due to being replaced by [...]
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How To Estimate the Replacement Cost of Older Homes
The ambiance of an older living space offers quality of life comfort. But getting the best home insurance for older homes can prove challenging. [...]
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How to Estimate Insurance Costs for Farm Buildings
Protecting family and business endeavors requires reliable insurance policies that fully cover farm buildings in the event of a catastrophic storm, fire or other [...]
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