Learn How Property Claims Work

Short, plain-English explanations of the terms and math on your claim paperwork.

Insurance guides

Insurance
What Is Actual Cash Value?
Actual Cash Value is generally the replacement cost of damaged property minus depreciation. Here is how that plays out on a claim.
Insurance
ACV vs RCV Explained
Why your first claim check can be smaller than the estimate, and how replacement cost policies pay the difference.
Insurance
What Is Recoverable Depreciation?
What it means when your insurer holds back depreciation, and what usually has to happen before it is paid.
Insurance
How Percentage Deductibles Work
A 2% deductible is 2% of your dwelling limit, not of the damage. Worked examples for wind and hail deductibles.

Roofing guides

Roofing
How Roof Depreciation Works
How age, material, and condition can affect what an insurer considers your roof's actual cash value.

Storm Damage guides

Storm Damage
What Size Hail Can Damage a Roof?
How hail size, roof material, and roof age interact, and why only an inspection can confirm damage.

Water Damage guides

Water Damage
Does Homeowners Insurance Cover Water Damage?
Sudden leaks are often covered; gradual leaks usually are not. Flood is usually excluded from standard homeowners policies and covered separately through flood insurance.