Sentences with phrase «depreciated value of each possession»

Like insurance companies, airlines consider the depreciated value of your possessions, not their original price or the replacement costs.

If the policy is based on «actual cash value» (ACV) then your insurance policy will only pay the depreciated value of each possession listed in the claim.

Obviously, if you're going to be receiving benefits equal to the depreciated value of your possessions, you may not receive enough of a payment to actually replace your items.

Not exact matches

If you bought most of your possessions a few years ago, their current depreciated value will be much less than the total sum it would take to replace them.

That means you'll get the current value of your possessions, which may be considerably less than the cost you'll incur to replace them, especially if they are older and have depreciated in value.

Actual cash value only insures your possessions against the insurer's assessment of their remaining non depreciated value.

Replacement Cost coverage is more expensive, but it's generally worth it, since most of your possessions have probably significantly depreciated in value since you bought them e.g. your clothes, electronics, and furniture).

After you suffer a loss when you have this type of policy, the insurance company will pay you a benefit that takes into account the depreciated value of any of your possessions.

Similar to your residence coverage, this option will provide benefits that cover the full cost of replacing your possessions with new ones, instead of just providing coverage at your property's depreciated value.