Posted by Partners Risk Services on Filed Under: Business Insurance, Home Insurance, Risk & Safety
The Value of Replacement Cost Coverage
Posted: July 26, 2013
Most homeowners and businesses buy insurance to cover the repair/replacement of loss of damaged property. Generally speaking, insurance companies do a good job of managing claims and helping the owners get their property back to a pre-loss condition. One important part of the insurance process is to understand the difference between Replacement Cost (RC) and Actual Cash Value (ACV) coverage. Let’s start with definitions of... Read Article