Sentences with phrase «instead of actual cash value»

Many insurance experts recommend that you insure your home for its replacement value instead of its actual cash value.

The valued policy law is a law which compels insurance companies to reimburse valued policy holders for the full value of their loss instead of its actual cash value.

This means you'll get the amount of money you need to replace the property that suffered the loss, instead of the actual cash value.

That's what gives you enough money to purchase new property instead of the actual cash value of what was lost.

That's what gives you enough money to purchase new property instead of the actual cash value of what was lost.

Not exact matches

Generally, insurance carriers will offer some sort of upgrade coverage option for your personal possessions anyway (such as replacement cost coverage instead of the default actual cash value).

Actual cash value pays the current, depreciated value of an item that was damaged instead of the cost of replacing the damaged item with a new one.

Some people add up actual cash value instead of replacement cost.

You don't want to be stuck with a claim they won't pay or with actual cash value coverage instead of replacement cost.

Co-Insurance can have a drastic affect on how an insurance loss is valued because not meeting coinsurance requirements can mean you receive payment based on Actual Cash Value instead of Replacement Cost.

Collision coverage does not come with limits; instead, the most it will pay you is the actual cash value of your car, minus your deductible, if it is declared totaled.

Instead, the actual face and cash values of your policy will depend on how well your «special fund» performs.

This is important because this coverage is what allows you to go buy new property instead of only getting the actual cash value and having to shop for replacement property at a thrift store.

You don't want actual cash value coverage, because then you're shopping for replacement property at the Goodwill over on Roosevelt Avenue, instead of at the Galleria.

For example, if you have actual cash value coverage instead of replacement cost of your home structure, find out how that works and if it's the best coverage for you.

One typical mistake condo owners make is buying coverage that reimburses the actual cash value of their belongings instead of a policy that covers the replacement costs.

You don't want to be stuck with a claim they won't pay or with actual cash value coverage instead of replacement cost.

Yes, but generally at Actual cash value (either market value or replacement cost minus depreciation) instead of replacement cost.

You can choose between a total replacement policy or one that reimburses you instead for the current actual cash value (ACV) of your items.

In these cases, there is something called actual cash value that will be used instead of a replacement value.

Similarly, if your policy only pays for actual cash value instead of full replacement cost, the amount you receive in your insurance claim will most likely fall far short of the amount needed to replace the device.