Market Value refers to the price an asset or property could achieve in open commerce under normal buying and selling conditions. In the context of insurance, it is important to determine the appropriate coverage amount and to evaluate claims in case of losses.
Key Concepts:
Understanding market value is essential to ensure you have the right coverage to protect your investment. It also helps us assess risks and set premiums that reflect the true value of the insured assets.
At PSIC, when you purchase your policy—whether it’s for homeowners, landlord, mobile home, or condo—you choose the type of coverage you want and whether you prefer actual cash value or replacement cost for damage valuation. If you select the actual cash value and your property needs to be rebuilt, you’ll receive an amount equivalent to the market value of your property. To ensure you are covered for the cost of reconstruction, it’s important that the valuation of your home is accurate when you complete the application form. If you have questions or need to review the coverage amount, please contact your agent.
We know how important it is to safeguard what you value most. By understanding market value, we can work together to find the best coverage for your needs, giving you peace of mind knowing that your investment is protected.
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Copyright © McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. 17486061 The insurance policy, not the contents of this website, forms the contract between the insured and the insurance company. The policy may contain limits, exclusions and limitations that are not detailed on this website. Coverage may differ by state.
Privacy Notice at Collection for CA employees
Last updated: June 27, 2023
We take the privacy of our employees and applicants very seriously. Please read this notice carefully as it contains important information on the personal information that we collect, why we collect it, how long we keep it, and that it is not sold to third parties.
Other terms used but not defined will have the meaning set forth in the CCPA, as amended by the CPRA, Cal. Civ. Code §§ 1798.100—1798.199.100, and accompanying regulations set forth under Cal. Code Regs. tit. 11, § 7000 et seq.
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When it is no longer necessary to retain your personal information, we will delete or anonymize it.