Many factors affect the value of your property, and depreciation is a major aspect of property assessment, particularly when it comes to calculating Actual [...]
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5 Things Every Homeowner Should Know About Their Insurance
Your home is a large investment and can hold a lot of emotional and financial value. When a loss or damage occurs, you want [...]
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What is Other Structures Coverage?
We typically think of home insurance as coverage that protects our housing in case of a loss, but you may not realize that most [...]
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Determining a Structure’s Physical Condition for Depreciation & Replacement Cost Estimates
Understanding and determining a structure’s physical condition is crucial. Physical condition is also part of estimating the Physically Depreciated Value / Actual Cash Value [...]
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Reasons Why Your Homeowner’s Insurance Goes Up Every Year
We’ve all been there: you open your insurance company’s latest annual assessment, and lo and behold, your home insurance premium has increased. You may [...]
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What is Recoverable Depreciation in Insurance?
Depreciation refers to the loss of an item’s value over time and applies to most household possessions. For example, if you purchase a brand-new [...]
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Effective Age vs Actual Age
Effective age and actual age of homes are used by industry professionals but can be easily explained. How old your home (or structure) is, [...]
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Guide to Estimating the Replacement Cost of Farm and Ranch Structures
When determining the replacement cost of farm and ranch structures, you need an accurate estimate that can distinguish between the distinct differences in farm [...]
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Characteristics that Influence Replacement Cost of Agricultural Buildings
Estimating replacement costs for agricultural structures can be a daunting task because not only can costs vary widely based on numerous factors, but the [...]
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Calculating the Replacement Cost of New Home Builds
When determining the replacement cost of a new home, there are many factors to consider. Unlike older homes, new builds use current construction cost [...]
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