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similar materials to what you had before. There's usually a maximum dollar amount. (By paying a higher premium, you may be able to obtain guaranteed replacement cost coverage, which does not specify a maximum dollar amount.) Actual cash value: This is the amount needed to replace or rebuild your property, less depreciation. Typically, personal property will be reimbursed at actual cash value. The calculation method depends on the type of property (home or personal property) and the type of dwelling. Keep in mind that you'll need to satisfy a deductible (i.e., pay a certain amount out of pocket) before your insurance company will reimburse you for a loss.
IMPORTANT DISCLOSURES Broadridge Investor Communication Solutions, Inc. does not provide investment, tax, or legal advice. The information presented here is not specific to any individual's personal circumstances. To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purpose of avoiding penalties that may be imposed by law. Each taxpayer should seek independent advice from a tax professional based on his or her individual circumstances. These materials are provided for general information and educational purposes based upon publicly available information from sources believed to be reliablewe cannot assure the accuracy or completeness of these materials. The information in these materials may change at any time and without notice. Thad Johnson, AIF, MBA 222 2nd Ave SE Hutchinson, MN 55350 320-587-3444 thad.johnson@flagship-advisors.com
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