Sentences with phrase «settled at the actual cash value»

Not exact matches

It's also important to note that many insurance carriers settle losses initially at actual cash value and then later pay the difference after you replace the item and submit a receipt.

If the unit owner does not have the unit insured for at least 80 % the loss will be settled on an ACV Actual Cash Value basis.

That's why replacement cost coverage is so important, because you want the loss to be settled at the cost to buy new property of like kind and quality, not at the actual cash value (depreciated) of the property.