Sentences with phrase «at time of loss»

Additionally, you can not calculate casualty losses based on the price of the asset at the time of the loss.

At the time of loss or damage, you are reimbursed for the actual value of the item (s) minus depreciation.

With the ACV method, the insurer calculates reimbursement on the basis of the actual cost value of the item (s) at the time of the loss with a deduction for depreciation.

With the RCV policy, you pay a higher premium, but you get the full cost of replacement at the time of loss with no deduction from depreciation.

The former is the cheaper of the two and at the time of loss the insurer will pay the actual cost of the items lost minus depreciation.

Alternately, with RCV policies, you pay more for the premium, but at the time of loss, your reimbursement is for the actual value of the items with no deduction for depreciation.

A home rental insurance policy can cover property that is in a vehicle, in storage, or a place of residence no matter where the property is at the time of loss.

But, the problem with this type of Oakland renters insurance is that it only pays the estimated value of the item (s) at the time of their loss / damage, minus a deduction for depreciation.

With the ACV policy, you are reimbursed in the amount of the items at the time of loss minus depreciation.

Reimbursement under ACV policies pays for the value of the item at the time of loss minus depreciation.

The only way that renters insurance will cover that fire — or any other loss — is if it was in force at the time of the loss.

However, the insured value at the time of the loss is usually required to be at least 80 % of the replacement cost before your policy is covered on a replacement cost basis.

Additions & Alterations Coverage: Covers home improvements like custom counters and cabinetry, imported tile flooring, bathroom upgrades and home theater systems for the amount they'd be worth at the time of the loss.

Covers home improvements like custom counters and cabinetry, imported tile flooring, bathroom upgrades and home theater systems for the amount they'd be worth at the time of the loss.

ACV, or Actual Cash Value, determines the value of the policy holder's belongings at the time of loss.

The ACV method is the cheaper of the two, but when a loss happens, you only get reimbursed for the value of the items at the time of loss minus depreciation.

No Help Filing a Claim: At the time of a loss, it is comforting to have a familiar voice help you through the claims process.

Instead, you may want to purchase the policy that offers you the lowest deductible, or one that will pay you the replacement cost for your property instead of its depreciated value at the time of the loss.

However, you need to understand that when loss occurs, you are only reimbursed for the value of the item at the time of loss minus depreciation on the item.

Actual cash value is what the damaged item was worth at the time of loss.

The value of any property that is lost or damaged at the time of the loss, in contrast to Replacement Cost (RC).

This kind of coverage will pay you the actual value of the items at the time of loss with some reduction for depreciation.

If you have renters insurance at the time of a loss, you're very lucky.

Actual cash value: Insurers take depreciation into account when calculating the value of your possessions so your insurer will only pay out the value of the belongings at the time of the loss.

If actual value of assets insured under this policy at time of loss be collectively greater than sum insured, than you will be considered as being your own insurer for the difference.

Personal property is usually replaced based on cash value at the time of loss and not more than the amount needed to repair or replace a damaged item.

For example, if your old laptop was damaged in a home fire, you would receive the amount the laptop was worth at the time of loss.

Under insurance: If actual value of insured property at the time of loss under fire benefit is greater than the sum insured opted then the claim is reduced in the same proportion.

Some insurance only pays the actual cash or market value of the item at the time of the loss, not what it would cost to fix or replace it.

Actual Cash Value policies pay for replacement costs less depreciation at the time of the loss.

A basic policy will pay you ACV, which is the value of the property at the time of loss.

If your interest in the property has changed since the policy was written, your insurer will calculate your loss payment based on your interest in the property at the time of the loss.

a) Your Accidental Injury, Covered Sickness or death or the Accidental Injury, Covered Sickness or death of Your Traveling Companion, Your Family Member, Your children's caregiver or Your Business Partner; that results in medically imposed restrictions as certified by a Physician at the time of loss preventing Your participation or continued participation in the Covered Trip.

If your contents or building are insured on an actual cash value basis, then you will only get the depreciated value at the time of loss.

In other words, you get back the amount your valuables were worth at the time of the loss.

An estimate of the value of a vehicle or property, or the extent of damage from an accident at the time of loss.

I love helping people save money on a mandatory expense such as auto insurance, and making sure they have the right coverage so they're not surprised at the time of loss.

At the time of a loss, the business will typically file a claim.

At the time of loss, you'll be reimbursed for the amount it takes to replace or repair the items minus depreciation.

Replacement cost coverage pays the actual costs to replace damaged or lost items, and ACV pays based on what the item was worth at the time of the loss.

Like homeowners insurance, renters policies come in two basic forms: Actual cash - value policies cover the value of the item at the time of loss, taking depreciation into account; replacement - value policies cover the cost of replacing the lost item with a new one.

However, for a life insurance policy, insurable interest is not required at the time of loss.

Replacement cost will give you money to replace or repair items, actual cash value will only pay the market value of the items at the time of loss, that's a depreciated value (like a garage sale price) and will never give you enough to replace the item.

If you wanted to protect your car in case of flood, you would need coverage called «Other than Collision» which covers the actual cash value at the time of loss.

It will also provide for any greater amount owed on the vehicle at the time of loss, aside from any unpaid finance charges, excessive mileage, or any other charges or expenses associated with the loan or lease.

Most car policies pay a claim based on the value of the car at the time of loss, but some special coverages may entitle you to a replacement value or agreed value settlement.

If the original receipt is not available, benefits will be calculated based upon 75 % of the Actual Cash Value at the time of loss.

For claimed items without original receipts, payment of loss will be calculated based upon 75 % of the Actual Cash Value at the time of loss, not to exceed $ 750 per item for sports equipment.

In order to file an Uninsured Motorist claim for property damage you must identify the vehicle and be able to demonstrate that the vehicle was either not insured under a policy of insurance or that there was no coverage provided under a policy of insurance at the time of the loss.

If, at the time of loss, the involved underlying policy does not meet the Umbrella policy required minimum liability limits, the difference between the required minimum limits and the actual coverage provided by the underlying policy becomes a «deductible» for the Umbrella policy.