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Actual cash value (ACV) means the in the event of a loss, the insurance company pays the market value of what the item is worth at the time of loss (depreciation only goes down to 50% however.)

For instance, my TV is stolen.  I paid $1,000 for it ten years ago, but it's only worth $150 now because it's old.  The actual cash value is $150, but depreciation only goes down to 50%, so I would get a check for $500.

With replacement cost, using the example above, the full $1,000 is paid.

With all losses, the insurance company will subtract the deductible from their payment to you.

Blogger -- Caleb Wonn

Posted 1:06 PM  View Comments

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