Sentences with phrase «belongings after depreciation»

Actual cash value is the standard, it covers the value of the house and your belongings after depreciation.

An «actual cash value» (ACV) policy (also known as an «actual cost value» or «depreciated» cost policy), which is the cheaper option, will pay you the current value of your belongings after depreciation.

Not exact matches

Under this type of protection, when you make a claim for belongings that are damaged or stolen, your insurer will pay you what it costs to purchase the same item after taking into account depreciation.

A policy can have customized coverage levels so that your belongings are insured for either their actual value (what they're worth after depreciation) or for replacement cost (what it would cost you to replace them), according to the Insurance Information Institute.

this is where you receive the value of your belongings now, after depreciation.

Actual cash value means that your belongings are valued after depreciation is considered while replacement cost means that you are reimbursed for, essentially, what you paid.