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Homeowners Insurance

Buying a home is the single, largest purchase most people will ever make. Therefore, it is important to make sure your home and its contents are properly insured. Homeowner’s insurance provides coverage you can rely on, ensuring that your most valuable possessions are restored to the same or better condition they were in before a loss occurred.

What Is Replacement Cost?

We’re often asked why a homeowners policy with replacement cost is a big deal. This is crucial for contents and your actual home’s structure. Should a loss occur, you will want to be “made whole” as soon as possible, and will want your home and/or contents replaced as quickly and easily as possible, to the same level they were before the loss occurred. If your homeowners insurance policy has your home and contents covered at replacement cost, then you will be able to have them replaced as just outlined. This is a MUST that we believe should be included with every policy, which is why we strongly suggest this type of coverage.

Actual Cost vs. Replacement Cost Example

Let’s say that a nasty spring storm brings with it high winds, hard rain and even hail. During this storm, your roof is damaged to the point that it is leaking and causing problems inside your home; the realization sets in that the roof must be repaired, and possibly needs to be replaced. If your insurance policy provides for actual cost, then you’ll be subjected to receive actual cash value (ACV). The formula for this situation is ACV = cost to replace the roof – depreciation. This represents the dollar amount you could expect to receive for the roof, after wear and tear are factored in. Replacement cost coverage means that the insurance company will pay the full cost to repair or replace the damaged roof, using new materials that are of the sime kind, style and quality as the damaged roof.

We Work For Homeowners

Our insurance agents have decades of experience advising and helping customers make sure their home, and contents, are properly valued and insured. At Bagwell Insurance Group, we have worked hard to secure the availability of policies with various features so that we have the opportunity to custom design a policy that is right for you, your family and your home.

If you are ready to find the perfect homeowner’s insurance policy that is right for you, contact us today to speak to one of our agents.

We are headquartered in Gainesville, Georgia which allows us to conveniently serve our customers from metro Atlanta and across North Georgia. We are also a licensed insurance agency in several states, beyond Georgia, including: Alabama, North Carolina, South Carolina and Tennessee.

Homeowner Quote Sheet

Download our free Homeowner Quote Sheet to begin the process of gaining the protection you need at the price you deserve.