Buying a home is a big deal and a significant investment. For most of us, our house is our biggest expense. But, more importantly, our house is our home.
There are different types of insurance coverages in the US, and depending on which one you choose, it will change the amount you might receive from a claim.
Actual Cash ValueWith actual cash value coverage, you’d be covered for the cost (how much you paid) of your home and belonging after accounting for depreciation (how much the house and belongings are currently worth).