Actual Cash Value vs. Replacement Cost: What’s the Real Difference?
Getting a fair financial recovery after damage to an insured property can feel daunting. Replacement cost value (RCV) and actual cash value (ACV) play an important part in determining the amount received in a claim. For homeowners, understanding the difference between ACV and RCV claims is crucial to getting a fair payout. When you compare […]
Understanding Depreciation in Your Insurance Claim
You expect to recoup your money in full after filing a homeowners insurance claim, which is why it can be so confusing and disappointing to see a line item called depreciation reducing your final settlement. Knowing how to challenge depreciation calculations can help you recover thousands of dollars, even on settled claims. What Is Depreciation? […]
