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ACV and Replacement Cost Coverages… What are they? Which one is right for my business?

Should you lose your business to a fire or natural disaster, the Replacement Cost Coverage on your business insurance policy would cover the cost to rebuild at the same location using the same types of materials.

Actual Cash Value (ACV), on the other hand, is determined by deducting the cost of depreciation from the cost to replace your business. Depreciation is the loss in value of property due to obsolescence, time, and general wear and tear.

Watch our video to understand the differences between these types of coverages and to find out the benefits of each so you can determine which one is right for you.

 

For additional videos, please visit our Video Library
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