• Actual cash value provides you with the fair market value of your vehicle. That is, it reduces your vehicle's costs based on depreciation. Rolling that car off the lot leads to significant depreciation in its value, for example. If you sold your car, in its non-wrecked condition, what would you get for it?
• Replacement cost coverage provides you with the amount of money it would take to purchase the new item at the time of your claim. In other words, there is no depreciation factored into this claim. 

So, which is the best option for you? This depends on the value of your car and the budget you have for auto insurance.  

Personal property replacement coverage tends to be ideal when you need to replace your vehicle outright and need to recoup as much of the lost value as possible. Actual cash value coverage might be less expensive, but it could provide less support if your vehicle suffers significant damage. It's important to choose car insurance that meets your specific needs and offers you the level of financial support you need on an ongoing basis. 

Are you covered? Call Stewart Kriese Insurance Agency, Inc. for more information on the auto insurance policies we offer.