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What is RCV and ACV in insurance policies?
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Decoding insurance terms: RCV vs. ACV.
When it comes to property damage claims, understanding these terms is crucial. ACV (Actual Cash Value) considers depreciation, while RCV (Replacement Cost Value) does not. RCV covers the full cost of replacement or repair at today's prices, making it the better option.
When it comes to property damage claims, understanding these terms is crucial. ACV (Actual Cash Value) considers depreciation, while RCV (Replacement Cost Value) does not. RCV covers the full cost of replacement or repair at today's prices, making it the better option.
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