Category: Uncategorized

Replacement Cost vs. Actual Cash Value Coverage

When insuring your property, you will be given a choice between “actual cash value” and “replacement cost.” Here, we will discuss those two options and their differences to decide which option is right for you. What Is Replacement Cost Coverage? This coverage pay to repair or replace damaged property without subtracting depreciation. This coverage may…

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Why Do I Need Renters Insurance Coverage?

You need renters insurance if you have possessions and you’re renting property. Renters insurance is an excellent way to protect your belongings and your finances. This policy pays to replace your belongings if they’re damaged, vandalized, or stolen while renting. In addition, renters insurance protects you from unexpected catastrophes like explosions, fires, electrical surges, and…

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Are Punitive or Compensatory Damages Taxable?

When the negligence of another injures you, there are different types of damages that you can pursue. You can seek compensatory damages or punitive damages. However, it’s unclear whether these particular types of damages are taxable. Here, we will explore whether compensatory or punitive damages are taxable under the tax law. What Are Punitive Damages?…

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