Sentences with phrase «item less depreciation»

Actual cash value coverage means that you are covered for the value of the item less depreciation.

Cash value coverage reimburses you only for the present cash value of the item less depreciation.

Definition of Actual Cash Value: Intial cost to buy or market value of item less depreciation for the number of years you had it.

Not exact matches

The ACV policy is less expensive than the RCV, but it only pays the value of the item lost or damaged minus depreciation.

Cash - value policies are cheaper because you are covered only for what an item would cost today less depreciation for how old it is.

Actual value works with depreciation of your items so as your items age they become less and less valuable in most instances.

If you choose an actual cash value (ACV) policy, you pay less each month in premiums, but when you experience a loss, you get less reimbursement because the insurer pays out only the amount of the item's value minus depreciation.

I received a check from the insurance company for the «actual cash value» (replacement cost less depreciation) of items lost in the fire and In order to recover depreciation (50 -90 % of the total value in many instances), I need to buy the items, obtain a receipt, and then submit it to the insurance company.

Original purchase price plus some items found on HUD - 1 plus improvements that you capitalized over the years plus any selling costs less depreciation that was allowed regardless of whether you deducted it or not.