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In this week's installment of “Success Shortcut – Investing Tip of the Week” Chris talks about two different types of insurance policies - replacement cost vs actual cash value. Do you know what type of policy you have?

Actual cash value policies may help you save a few bucks, but in the event of a major claim you will almost certainly be in a difficult spot. The last thing you want to do in the event of a fire, tornado, etc is find yourself in a battle with the insurance provider over the actual cash value of your property. You could be stuck in position where you now need to bring extra cash to the table to rebuild your home, or even owe the bank money if the insurance payout is not enough to cover your loan!

With replacement cost coverage, things become much simpler and give you more peace of mind knowing you are completely covered to rebuild your property in the event of a major loss.

Watch the video to learn more!

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