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What is replacement cost insurance (RCV) and what is actual cash value (ACV)?

April 26, 2017actual acv cash Insurance value

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What is replacement cost insurance (RCV) and what is actual cash value (ACV)?

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In the event of a loss your insurance company will pay you the actual cash value(ACV) which is equal to the replacement cost of the damaged items minus depreciation and your deductible, When you replace the item or complete repairs your insurance company will pay you the depreciated amount. For more information on the Nebraska State Statutes, click here.