Coinsurance Penalty
If your policy limit is less
than 80% of the
replacement cost of your
home, you will face a
"coinsurance penalty,"
which means you'll have
out-of-pocket expenses to
cover costs beyond the
policy deductible you
chose. For example
purposes we will assume
your home's estimated
replacement value (RCV) is
$100,000. The coinsurance
clause requires you carry at
least $80,000 (80% of your
RCV). If you chose to
purchase only a $40,000
Stuart, FL Homeowners
Insurance policy you would
be underinsured by half.
Therefore, in the example
the insurance company
would pay one-half of a
loss less the policy
deductible, so if you
suffered a $10,000 covered
loss to your house,
condominium or townhouse
and had a $500 deductible,
your policy would only pay
$4,500.
Homeowners Insurance
STUART
(772) 287-1560
(772) 287-1950 fax

49 SW Monterey Road
Stuart, FL 34994
M-F 9:30 - 5:00
INSURANCE AGENCY
AGRILLO
772-287-1560
Since 1992
Click on the link below to fill
out a Florida Homeowners
Insurance quote form.
Agrillo Insurance Agency
© 2005, All Rights Reserved
Agrillo Insurance Agency of Stuart, Florida
Homeowners
Insurance Services