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Insurance lingo watch: Actual cash value vs replacement costs

insurance-lingo-watch-actual-cash-value-vs-replacement-costs

Sometimes, insurance lingo is quite confusing. Even simple terms can be misunderstood when you review your policies. One question that our agents hear all the time is “What’s the difference between cash value vs. replacement costs in homeowners insurance?” Here’s the scoop. Cash value insurance coverage is the cost of the item minus depreciation. So,…


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What’s an insurance rider?

whats-an-insurance-rider

Every industry has its own business jargon and insurance is certainly no exception … in fact, we may have more than our fair share, and a lot of lingo can be quite confusing to the average person. One question that we get on the regular is “what’s an insurance rider?” An “insurance rider” is more…


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What’s an insurance deductible?

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Like many other industries, insurance has its own unique jargon that can sometimes make shopping for coverage seem overly complicated. Your local independent insurance agent is always happy to break things down for you and explain any language or terms that you don’t understand. One term that is commonly used in auto, health and in…


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Bakker Agency • Main Office: 302 West Main Street, Suite 206 • Avon, CT 06001 • 860-676-1957
Branch Office: 4 Bridge Street • New Hartford, CT 06057 • 860-379-8555
Member of New England Insurance Alliance