Mar 23, 2022, 10:19 AM
Actual cash value and replacement cost are both loss settlement terms. ACV reduces the claim for depreciation. Depreciation does not affect replacement cost loss settlements. Click on the link below to learn more.
Blog - Illinois Insurance Hotline
Information covered in the Illinois Insurance Hotline blog is intended to provide general information and guidance, and should not be considered legal advice.
Have you been turned down for vehicle insurance?
Mar 16, 2022, 11:02 AM
Consider asking your agent about the Illinois Automobile Insurance Plan when you run out of options. Click on the link to learn more about the Illinois Auto Plan.
Prepare for Spring Flooding - Part 2
Mar 2, 2022, 10:26 AM
Just a few inches of floodwater can cause serious property damage. A separate, stand-alone flood insurance policy enables owners to share flood-related repair costs with an insurance company. Click on the link to learn more.
Prepare for Spring Flooding - Part 1
Feb 23, 2022, 9:55 AM
As winter gives way to spring, it's time to prepare for the possibility of a flood. Floodwater can endanger lives, create hazardous roadways, and cause significant property damage. Click on the link below for key flood terms and safety procedures.
Can homeowners insurance be canceled for storm claims? Where to go for coverage?
Feb 16, 2022, 10:13 AM
All homeowners insurance companies evaluate individual claim records before offering a policy renewal. Loss experience, including storm claims, may lead to discontinued coverage. Click on the link to learn more about policyholder rights and options when this happens.