Home Insurance

Actual Cash Value Vs. Replacement Cost: Which One Will Pay Your Entire Claim?

A standard homeowners insurance policy provides various coverage options, including personal property coverage and dwelling coverage. It safeguards your personal property against loss or damage caused by a covered event such as fire, vandalism, and certain natural disasters. The payout typically depends on the stated coverage limits and the type of coverage. What Does Replacement

Home Insurance

Is Your Homeowners Insurance Eligible for Tax Deduction?

Generally, homeowners insurance premiums are not tax-deductible. However, in some exceptional circumstances, for instance, when you rent out your property or work from home, you may be able to claim a tax deduction on your homeowner’s insurance premiums. What Is a Tax Deduction? You’re obligated to pay taxes annually on your wages, salary, or other