Category Archives: General Insurance info

Replacement Cost vs Cash Value







Something to consider when purchasing insurance is whether or not you want replacement cost or cash value.

Replacement cost compensates you for the actual cost to replace your property. For example, if you have a musical instrument that was appraised by a reputable appraiser at a certain value, then if something happens to that instrument later, you will be compensated for the appraised amount.

Cash value is a little more complex.It is the replacement cost minus depreciation. So basically the only difference between replacement cost and actual cash value is the depreciation.

If your policy sates “replacement cost”, you will generally have much less cash out of pocket when it comes time for you to file a claim.

Are You Covered?

Insurance is something we kind of take for granted. Most of us have car insurance, life insurance, a home owner’s policy, and hopefully, health insurance. BUT … are you really covered? Do you have all the insurance you need to protect yourself, your family, and your valuable possessions? Taking your insurance coverages for granted is… Continue Reading

Happy New Year

            It’s that time of year again. Most people are enjoying a football game and time with their families. Some people are reflecting on what went wrong and what went right during the past year. Others are making plans for this year. Part of the planning for this year should be… Continue Reading

Do You Need An Umbrella?

            An umbrella insurance policy covers what your auto and homeowners insurance does not cover. It’s a personal insurance policy to protect you from financial loss.  It protects current and future finances against the cost of losing a lawsuit. Umbrella policies generally have a much higher deductible because they expect… Continue Reading

Why You Need Insurance

            When it comes to protesting everything you’ve worked for – your home, auto, personal finances – there is nothing more important to your financial plan than having the appropriate insurance to cover all of these areas. Here are a few things for you to think about. What would happen… Continue Reading

Putting All Your Eggs In One Basket

                Having all your eggs in one basket is a good strategy when it comes to insuring your home, auto, and life. Many companies especially the TN Farm Bureau- Castle Heights agency offers all the insurance products a person or family needs for their protection. The other advantages… Continue Reading