Property Coverage

PROPERTY COVERAGE INSURANCE

Property insurance provides protection against most risks to property, such as fire, theft and some weather damage. This includes specialized forms of insurance such as fire insurance, flood insurance, earthquake insurance, home insurance, or boiler insurance.

There are two types of personal property coverage that you shoukd know about: replacement cost and actual cash value. A replacement cost policy normally pays the dollar amount it will take to purcahse a new item at the time of a claim. An actual cash value policy factors in depreciation to provide reimbursement based on the current value of an item or product.