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acv Archives - Horan Companies - CNY Insurance Agency

A totaled car on the street in Central New York.Car InsurancePersonal Insurance

Comprehensive vs. Collision Insurance: What’s the Difference?

Both comprehensive and collision coverage help pay for vehicle repairs and replacement. But the two types of coverage have their differences. Knowing those differences and the essential functions of these policy components will prepare you for unexpected damages to your vehicle. While neither comprehensive nor collision is required in New York (unless you’re financing or leasing a vehicle), the Horan agency strongly advises our clients to lock in these coverages depending on their circumstances. The protection they offer to the average Central New Yorker is worth far more than their respective deductibles. This article will demonstrate how they’ll benefit you…
January 20, 2023
Blog Post - Replacement Cost VS Actual Cash ValueHomeowners InsurancePersonal Insurance

Replacement Cost vs. Actual Cash Value

Regardless of the type of property you have insured, you either have replacement cost or actual cash value protection. Does that sound like some insurance jargon to you? Well, it is. However, it’s critical jargon that you need to fully understand if you ever have to make a claim on your insurance policy. Home insurance, personal property insurance, and auto insurance are based on replacement or actual cash value coverage. Let’s dig into the definitions and differences between both. Replacement Cost – What it does The best way to describe replacement cost is through a couple of everyday examples. What…
April 21, 2022
Business InsuranceBusiness Owners Insurance

How does Co-insurance work?

Question #96 in 100 Insurance Questions in 100 Days Video Series https://youtu.be/nO5TC2tCW2c Coinsurance on a commercial insurance policy in New York can have a serious impact on any partial or total loss. This is a critical element in the insurance policy that can not be overlooked. Please review this video explanation so that you do not get caught blindsided.
November 10, 2017