ACV vs. RCV: Understanding Depreciation in Insurance Claims
The “Silent Check” Problem: The first check is almost always just the Actual Cash Value (ACV) and not the final amount. ACV vs. RCV: RCV is the price to replace it new. ACV is the used price, which equals RCV minus depreciation. Recoverable Depreciation: In most replacement cost policies, the deducted money is held back … Read more