Understanding Replacement Cost Versus Actual Cash Value

Posted on November 28, 2025November 19, 2025 by admin

When you file a claim on your home insurance in Montgomery, AL, you will receive compensation at either replacement cost value (RCV) or actual cash value (ACV). The difference between these terms lies in how depreciation is handled in your carrier’s payout. When filing a claim, Bridgeway Insurance Group can guide you on what to expect.

What Is Replacement Cost Value?

RCV covers the current cost of any replaced item at today’s prices. You receive reimbursement for your lost or damaged item without a depreciation deduction. Most home insurance policies use replacement costs for damage to your dwelling and other covered structures. This coverage type is more comprehensive, so it comes with a higher premium.

What Is Actual Cash Value?

ACV pays the replacement cost of the covered item, minus depreciation due to wear and tear. In other words, you’ll have to pay extra money to get the same thing you had. This payout method usually applies to items like furniture, appliances, and clothes. For some items, like artwork or jewelry, the opposite can happen. You may receive additional compensation because the lost or stolen item has appreciated in value.

Policy Considerations

Replacement cost claims usually have two payouts: an initial one covering the ACV, and a second one after all repairs or replacements have been completed. With ACV, you only receive one payout.

If you want the financial stability of replacing lost, stolen, or damaged items, choose RCV. However, if you are on a budget and lower premiums are a priority, then go with ACV. Just know that you may have to pay out of pocket if you ever need to file a claim.

The agents at Bridgeway Insurance Group, serving Montgomery, AL, can help you decide what works best for your needs. Contact us to get started on your home insurance policy.

Does Your Car Insurance Policy Extend to International Travel?

Posted on October 31, 2025October 22, 2025 by admin

No matter where you drive in the United States, your car insurance is always protecting you. When you cross the northern border to Canada, most U.S. auto insurance policies will cover you on the road through all territories and provinces. The complications arise when you drive south to Mexico, Latin America, or South America, or cross the Atlantic to Europe, Asia, Africa, Australia, or an island.

Does Your Auto Insurance Cover You Outside of the U.S. and Canada?

It shouldn’t surprise you that Montgomery, AL, residents cannot use their U.S. auto insurance policies in those areas. Our agents at Bridgeway Insurance Group can suggest one of three coverages to protect you when you’re driving outside the U.S. and Canada:

International auto insurance
An add-on, or endorsement, to your existing auto policy
Local auto insurance in your destination country

International auto insurance is an option if you’re driving a rental car in the country during a temporary visit. But if you want to use your existing auto insurance, some carriers have add-ons for driving internationally or in specific countries. It should include auto accident liability, theft, and vehicle damage, but we’ll check the policy details to confirm. Meanwhile, buying auto insurance in the country of interest is available if you are driving your primary vehicle there or intend to move there.

Are There Any Other Car Insurance Requirements?

You need to get the minimum coverage for driving in the country. The U.S. embassy in that country will explain it online or by phone. Some countries require an international driver’s permit (IDP), which our team can help you obtain. As always, bring your driver’s license and passport with you.

While you pack your bags for your upcoming travel, Bridgeway Insurance Group agents will prep your insurance policy. We’ll discuss your carrier’s policy and its offerings, and suggest alternative solutions if it doesn’t meet the qualifications of your destination country. Contact us for more information on international auto insurance. We’re currently serving Montgomery, AL.

A Healthy Company Needs a Great Health Plan

Posted on September 30, 2025September 23, 2025 by admin

If you’re an Alabama business owner, one of your key responsibilities is purchasing commercial insurance. Many business owners require guidance to develop the optimal insurance portfolio. If your company is near Montgomery, AL, our team at Bridgeway Insurance Group is here to take the time to understand your unique insurance requirements. For over 15 years, we’ve been assisting Alabama businesses like yours.

A Healthy Company Needs a Great Health Plan

Choosing a health insurance plan for your employees is an important decision. According to Monster, the first step in the selection process should involve polling your employees about their health insurance needs. Send out a questionnaire to gather information about their preferences and address any health habits, such as alcohol or tobacco use, that may impact their coverage needs.

Before selecting a health plan, narrow down your options to the type of health management plan that aligns with your employees’ needs and your management style. Evaluate the costs of each plan on your shortlist and communicate to your employees which expenses they will be responsible for. After implementing a health insurance plan, follow up with your employees a year later to assess how well the plan is meeting their needs.

Call Us Today for an Appointment

In our experience, business leaders want to secure the right insurance so they can focus on other aspects of their operations. At Bridgeway Insurance Group, we take pride in providing the best commercial insurance products for our corporate clients. Businesses in the Montgomery, AL, area trust us to handle their insurance needs with care and expertise. Call us today to schedule an appointment and let us help protect your growing company.

A Healthy Company Needs a Great Health Plan

Posted on September 30, 2025September 23, 2025 by admin

A Healthy Company Needs a Great Health Plan

Call Us Today for an Appointment

Protection Against Guest Injuries With Home Insurance

Posted on August 29, 2025August 20, 2025 by admin

Inviting someone onto your property comes with a certain amount of responsibility. If a guest gets hurt, even if it’s just a minor injury, you could find yourself dealing with more than just a scraped knee. For Alabama homeowners, having a solid home insurance policy is one of the best ways to avoid financial stress from unexpected accidents. Bridgeway Insurance Group, serving Montgomery, AL, can help.

What Liability Coverage Actually Does

Homeowners insurance typically includes personal liability coverage, which activates if someone is injured on your property and you’re found legally responsible. It can help cover the cost of medical treatment, legal defense, or even a court-ordered settlement. Whether it’s a fall on a wet front step or a dog bite in the backyard, this part of your policy helps protect your savings.

Small Injuries Can Still Cost Big

Even if you’re not at fault, your policy’s medical payments coverage may pay for minor injuries. This can prevent a friendly visit from turning into an awkward legal issue. It’s designed to handle smaller claims, like an ER visit for a sprained ankle, without requiring you to admit fault.

Understanding the Limits of Your Coverage

Some situations may not be covered, such as injuries caused by a home-based business or certain dog breeds, unless you’ve added those to your policy. If your home sees a lot of visitors or your personal assets are substantial, you might want to consider adding umbrella coverage for an extra layer of protection.

Before something unexpected happens, take a few minutes to review your homeowners’ policy. If you’re unsure about what’s covered, talk with your local Alabama insurance agent at Bridgeway Insurance Group, serving Montgomery, AL, and get the clarity you need to make sure your family’s biggest asset is protected as it should be.

Will Insurance Pay For Arson Damage?

Posted on July 31, 2025July 22, 2025 by admin

Car insurance in Montgomery, AL can help ensure you always have a vehicle to drive. However, if someone sets fire to your car, the situation can become more complicated. Several factors come into play when determining whether your insurance will cover the damage.

Comprehensive Insurance

If you have comprehensive coverage, your policy will likely cover the damage. Comprehensive coverage protects against incidents beyond your control that are not related to accidents, such as fires, theft, and vandalism. Arson typically falls into this category, but it’s important to speak with an agent at Bridgeway Insurance Group to confirm your specific coverage.

Intentional Fire Exclusion

Insurance companies protect themselves from fraud by including specific exclusions in their policies. For example, they will not provide coverage if the vehicle owner intentionally sets fire to their own vehicle. Some companies may require a police report and will not release reimbursements or approve claims until a police investigation rules out the owner as a suspect.

Coverage Limits

Coverage limits are another important factor to consider. For instance, if your personal property coverage limit is $10,000 and you have $20,000 worth of upgrades damaged in the fire, your insurance may not cover the full cost of the damage.

Totaling Out the Vehicle

If the cost of the damage exceeds the vehicle’s value, many insurance companies will declare the vehicle a total loss. This means the vehicle is deemed unsafe to drive, and the insurer may reimburse you for the estimated value of the car.

It’s essential to speak with a professional at Bridgeway Insurance Group to learn more about how arson cases are handled. Every insurance company operates differently. Contact us today to discuss your coverage options. We proudly serve the Montgomery, AL area.

When One Storm Shuts Down Your Business: Are You Protected?

Posted on June 30, 2025June 19, 2025 by admin

Storms can often shut businesses down for days or even weeks in Montgomery, AL. Whether it’s due to a power outage, flooding, or a complete loss of your structure, your business mustn’t shut down completely. Knowing that you’re covered is critical, and our agents at Bridgeway Insurance Group can help every step of the way.

Storm Coverage You Can Depend On

Your commercial insurance policy may not protect you against all types of storm damage. It depends on the kind of damage sustained and the specifics of your policy.

For example, do you have flood protection? Wind protection? Is the entirety of your business—including all of your equipment—covered within your policy?

Being able to understand what is clear and isn’t covered is vital to protecting your business. One issue with your policy could mean lights out for your operations.

Exploring Your Business Policy

It’s not just about protecting your property. Your business policy should cover every aspect of what happens when a storm shuts down your operations. You may want to consider business continuation protection, which allows the insurance company to pay you for every day you’re unable to open.

If you’re unsure how to protect your business thoroughly, it’s time to take a closer look at your business insurance policy.

Let an Agent Review Your Policy

The last thing you want is for your business to be shut down longer than necessary. There are many ways to protect your business in Montgomery, AL, and it starts with understanding the different types of coverage available.

Don’t leave your commercial insurance policy to guesswork. Call us at Bridgeway Insurance Group to speak with one of our agents. We’ll review your policy and ensure that you’re covered should a storm strike.

Does Home Insurance Cover Fences That Blow Over?

Posted on May 30, 2025May 27, 2025 by admin

Residing in Montgomery, AL, we’re all too familiar with the unpredictability of the weather. One moment it’s calm and sunny, the next a gust of wind is sending your patio furniture flying, possibly even your fence. If your fence falls during a storm, you might be left wondering: Does my home insurance cover this? At Bridgeway Insurance Group, we’re here to help you understand exactly what your policy may or may not cover.

Deciphering Fence Coverage

Most standard home insurance policies include coverage for other structures on your property, which typically means detached garages, sheds, and yes, fences. If your fence is damaged due to a covered peril, such as windstorms, hail, or falling trees, your policy may help pay for repairs or replacement.

However, it’s not always that straightforward. The key factor is whether the damage was sudden and accidental or due to neglect over time. If your fence was already leaning or in poor condition, insurance might not cover it. Conversely, if a strong windstorm unexpectedly blew it over, you’re likely in a better position when it comes to filing a claim.

What You Need to Know

It’s important to review your policy and understand your deductible. If the cost to repair your fence is less than your deductible, it might not make sense to file a claim. Also, keep in mind that cosmetic damage may not always qualify.

At Bridgeway Insurance Group, proudly providing home insurance solutions to homeowners in and around Montgomery, AL, we want you to feel confident in your coverage. If you’re unsure what your policy includes or want to explore your options, give us a call today. We’re here to help protect your home, fence included.

Online Insurance Verification

Posted on April 30, 2025April 28, 2025 by admin

Drivers in Alabama are required by state law to purchase auto insurance. You might have questions about auto insurance options. If you live near Montgomery, AL, our team at Bridgeway Insurance Group is looking forward to providing answers for your insurance questions. Our team has earned a reputation with local clients for providing excellent service and support.

Online Insurance Verification

The State of Alabama requires its drivers to carry mandatory auto liability insurance. According to the Alabama Department of Revenue, the state uses an online insurance verification system to verify a driver’s auto insurance. The same website reports that the online system starts tracking drivers’ compliance with insurance regulations when a vehicle is registered. If someone’s driver’s license is revoked, the system receives notice of their license revocation.

If a driver in Alabama fails to comply with a request to show their insurance policy information when the police ask for it, the online system is notified. The police typically issue a summons if this documentation is not produced, and the system is notified of the ticket issuance. Insurance companies are responsible for sending an updated list of all their policyholders to the system. Keeping this information in an online system helps law enforcement officers verify someone’s insurance status.

Contact Us Today for Your Appointment

You need an insurance company you can trust to ensure you have the right insurance. Clients in the Montgomery, AL area have learned they can rely on our team at Bridgeway Insurance Group to help them select the right insurance solutions. Call us today to schedule an appointment and let us help you choose the right insurance solutions for you and your family.

What Happens If an Employee Gets Injured While Working from Home?

Posted on March 28, 2025March 25, 2025 by admin

Remote work has become a standard part of business operations, offering flexibility for employees and employers alike. However, as more people work from home, a new question arises: What happens if an employee gets injured while working remotely? At Bridgeway Insurance Group in Montgomery, AL, we help businesses navigate these evolving risks and ensure they have the right coverage in place.

Are Injuries While Working from Home Covered?

Workers’ compensation laws generally require employers to cover injuries occurring while an employee performs job-related tasks, regardless of location. If an employee is injured while working from home, they may still be eligible for workers’ compensation benefits. However, proving that an injury was work-related can be more complicated outside of a traditional office setting.

For example, if an employee trips over a power cord in their home office while on a work call, that could be considered a job-related injury. But if they slip while grabbing a snack in their kitchen, the line between work and personal time becomes less clear. Employers should establish clear remote work policies to help define what constitutes a work-related injury.

How Can Businesses Protect Themselves?

Having a comprehensive workers’ compensation policy is crucial, even for remote teams. Employers can also reduce risks by providing ergonomic guidelines, safety checklists, and clear expectations for home office setups. Ensuring employees have a designated workspace can help prevent accidents and streamline claims if an injury does occur.

Stay Protected with the Right Coverage

Remote work introduces new challenges, but the right insurance can provide peace of mind. Bridgeway Insurance Group in Montgomery, AL, can help you find the right commercial insurance to protect your business and employees. Contact us today to learn more!

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Insurance Blog

What Is Replacement Cost Value?

What Is Actual Cash Value?

Policy Considerations

Does Your Auto Insurance Cover You Outside of the U.S. and Canada?

Are There Any Other Car Insurance Requirements?

A Healthy Company Needs a Great Health Plan

Call Us Today for an Appointment

A Healthy Company Needs a Great Health Plan

Call Us Today for an Appointment

What Liability Coverage Actually Does

Small Injuries Can Still Cost Big

Understanding the Limits of Your Coverage

Comprehensive Insurance

Intentional Fire Exclusion

Coverage Limits

Totaling Out the Vehicle

Storm Coverage You Can Depend On

Exploring Your Business Policy

Let an Agent Review Your Policy

Deciphering Fence Coverage

What You Need to Know

Online Insurance Verification

Contact Us Today for Your Appointment

Are Injuries While Working from Home Covered?

How Can Businesses Protect Themselves?

Stay Protected with the Right Coverage