RCV - Insurance Software development

What is the role of ACV and RCV in insurance coverage after loss?

Author - Webner
4:21 am
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When purchasing property damage insurance for a home or business, you will be given the option of having your policy cover the real cash value of your lost belongings or the replacement cost value. Unfortunately, failing to fully comprehend these phrases frequently leaves property owners with significantly less than the full amount of roof damage following a hailstorm.

What is Replacement Cost Value (RCV)?

RCV coverage ensures that a policyholder will receive the full amount required to replace covered damaged products with a “like” sort of quality. For example, if you totalled a compact family car under an […]

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