For policyholders seeking lower premiums or with the means to come out of pocket to cover a loss, ACV might be the way to go. However, Forbes Advisor found that the average home insurance costs increased by 8% when adding replacement cost coverage to a policy. Credit: Bigstock For policyholders seeking lower premiums or with the means to come out of pocket to cover a loss, ACV might be the way to go. However, Forbes Advisor found that the average home insurance costs increased by 8% when adding replacement cost coverage to a policy. Credit: Bigstock

Editor's note: This column is part of PropertyCasualty360's Foundations of P&C Insurance series, which aims to bring new insurance professionals up to speed, while keeping industry veterans sharp. On Fridays, PC360 will offer up fresh content covering the nitty-gritty details of P&C insurance, tips for professional development, articles looking at the industry's more niche concepts, and the history of certain lines and programs.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]

Coverage & Policy Issues
Catastrophe & Restoration