How does actual cash value (ACV) affect a homeowner's insurance claim?

Actual Cash Value (ACV) represents the depreciated value of your loss. The specific depreciation percentage can vary widely, ranging from 10% to 100%, depending on your insurance provider. It is important to note that your agent may not have access to these figures, as they are typically managed by the claims department.

When discussing depreciation with your agent, inquire whether ACV applies to the entire home or just the roof. Additionally, ask whether your personal property is covered under ACV or Replacement Cost Value (RCV).

If you have further questions, please feel free to reach out.