How can I determine the financial stability of an insurance company?
There are many independent organizations that rate the financial strength and claims paying ability of insurance carriers. These agencies include A.M. Best Company, Standard & Poor’s, Moody’s, Weiss Research, and Duff and Phelps. These agencies conduct financial analysis based upon information supplied to them by those insurance companies who subscribe to their services or consists of information readily available to them by publicly held companies. What is the difference between “actual cash value” and “replacement cost?” The two major types of insurance property valuation upon which policies are issued, are defined as either actual cash value which at a time of loss considers the age, wear, tear, and depreciation in assessing valuation or replacement cost which considers the cost of replacing or repairing property for the same kind and quality without regard to depreciation. What is the minimum amount of auto insurance that I am required to carry? The State of California mandates tha
