Is Selecting Replacement Cost Home Insurance The Best Option?

Most people don’t realize there are two different types of home insurance policies to choose from. One of the types is the replacement cost of the home. This policy will adjust for inflation and the current costs of material and labor. The other type is face value insurance. This type of insurance will pay the value of the home at the time of purchase.

Which Policy Works Best?

People who want to save money on their insurance usually consider purchasing purchase value insurance, but that may prove to be conducive to losses if there is a claim in the future, especially if the claim is a total loss. The right way to make a good decision is to work with an experienced insurance agent. They can point out the benefits and help weigh the risks associated with both types of insurance. 

Getting the Answers 

Insurance shopping can be confusing and most people have tons of questions. The first step is to seek out a top insurance agency like the Insurance Center of Green Valley. They serve the residents of Green Valley, AZ and are committed to giving them the answers and information they need to make the best decision for their current and future needs. In addition, if there is a claim, they can help file paperwork to expedite the process so homeowners can make the necessary repairs. 

If you are currently in the market for home insurance protection, call or stop by the Insurance Center of Green Valley today to find out more about your options for insurance policies. Don’t take chances when it comes to covering your home with adequate insurance. 

Deciding Between Full Coverage and Liability Auto Insurance

Drivers often wonder whether they should purchase liability vs full coverage insurance. Both coverage types are good options, but the Insurance Center of Green Valley wants to help you understand the differences.

Liability VS Full Coverage

Liability auto insurance is the bare minimum required by law in most states for you to drive legally. It is designed to cover damage and other expenses caused by you in an accident. In Green Valley, AZ, the minimum liability required is:

  • $15,000 for bodily injury per person/ up to $30,000 per accident
  • $10,000 for property damage per accident

Full coverage goes beyond the minimum requirements. Most full coverage policies also include collision and comprehensive. It insures against any covered event regardless of who is at fault.

Both liability and full coverage have their pros and cons:

Advantages of Disadvantages of Liability

Liability insurance is known as the more affordable option. As it covers damage to other people and property that belongs to other drivers involved in an accident you cause, it helps take the financial burden off of you.

The largest downside of carrying only liability is that it does not cover your vehicle in the event of an accident. If your car is totaled or damaged in an accident in which you are at fault, you will be paying to replace or repair your own vehicle.

Advantages and Disadvantages of Full Coverage

Full coverage insurance will take care of damages and injuries to people and property involved in an accident regardless of who is at fault- as long as it is a covered event. It can make sure you get back on the road if there are damages to your own vehicle as well as other expenses incurred during an accident. The biggest disadvantage to full coverage is that it is a less budget-friendly option, but the additional coverage often far outweighs this issue.

If you are in or around the Insurance Center of Green in Valley, AZ, stop by or give us a call for your no-obligation quote on liability and full coverage auto insurance!