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At Elevated Insurance Group, we are aware of the importance of having the appropriate car insurance coverage to safeguard your financial stability and give you peace of mind while driving. Below is crucial information about car insurance that you should know before choosing your coverage.
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Have you noticed that your insurance rates are going up? You're not alone. Here are few reasons why rates are going up:
Riding a motorcycle can be exhilarating, but at the same time it can be incredibly dangerous.
Here are some important tips to consider. Here at Elevated Insurance Group we provide Homeowners insurance through multiple insurance carriers. ACV (Actual Cash Value) vs RCV (Replacement Cost Value)ACV is the current market value of your property with depreciation. For example, if your 4 year old couch is destroyed in a fire, the insurance company typically will pay the cost minus the depreciation. RCV is the amount it would cost to replace your covered property with a similar item at today's prices including no depreciation. For example, if your 4 year old couch is destroyed in a fire, the insurance company would typically pay the full cost to replace it with no depreciation. Additionally, if you have a mortgage on your home, your lender may require you to maintain a certain level of homeowners insurance coverage. For most homeowners insurance, the cost between ACV and RCV is very minimal. Here at EIG Insurance we typically always recommend Replacement Cash Value.
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November 2023
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