Settle Your Way Endorsement
Looking for a flexible home insurance option? We’ve got you covered.
What is the Settle Your Way endorsement?
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Who is the Settle Your Way endorsement for?
This insurance endorsement can be appealing to those who may not want to rebuild their home or replace their belongings if damaged by a covered peril.
How does the Settle Your Way endorsement work?
To understand how the Settle Your Way endorsement works, it’s important to first know how a claim is normally settled.
In the event that your home or belongings are damaged or destroyed due a covered peril, normal settlement coverage would offer you 2 options:
- to repair or replace (if irreparable) with a house and/or belongings of similar kind and quality. Your new home would be roughly the same size as your original home and in the same location.
- to receive a direct cash settlement on the home and/or belongings, the amount of which would reflect the actual cash value at the time of loss (replacement cost less applicable depreciation).
If you have
With the Settle Your Way coverage, you would have the option to rebuild a similar type of home at another location or take a cash settlement, without being subject to depreciation, which you could do with as you please.
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