An Allstate claim adjuster calculated the actual cash value
of the property as $113,000, including approximately $158,000 to replace the fire-damaged items minus depreciation.
Rifle Ammunition: Average policyholder claims $104; actual cash value
20, 2005, the policy was renewed and again provided policy limits of $500,000 actual cash value
for the subject building.
That bulletin addresses the calculation of actual cash value
under the Texas Standard Homeowners' Policy.
What we are allowed to offer him is the actual cash value
of items, and what he is wanting is the replacement value," she said.
The alternative is to insure on an actual cash value
basis, which basically is a depreciated replacement cost value.
This requires that damaged property will be insured at its cost to repair or replace, not at its depreciated or actual cash value
Chapter 3 defines actual cash value
and replacement cost.
Under this warranty option, if a technician-installed security system is defeated and the machine is stolen, API will reimburse the owner the actual cash value
of the fax machine up to $5,000 for three years, and up to $25,000 per occurrence, per building.
The preminums for this coverage may run perhaps 40 percent higher than the premiums for a policy that pays only the actual cash value
of your possessions.
Members with Brand New Belongings coverage first receive a check for the actual cash value
(the depreciated amount) of their covered item.
Actual cash value
covers the depreciated value of the item, not what you paid for it originally or what it will cost to replace.