ACV
~~> TODAYS REPLACEMENT COST MINUS DEPRECIATION
REPLACEMENT COST
~~> WITHOUT SUBTRACTING DEPRECIATION
FUNCTIONAL REPLACEMENT COST
~~> SOMETIMES CALLED REPAIR COST
AGREED VALUE
~~> AGREED VALUE BEFORE LOSS OCCURS
THREE COMMON METHODS USED IN PROPERTY INSURANCE TO MINIM...
✓ ~~> RETAIN RISK. MINIMIZES THE USAGE OF THE POLICY AND HELPS
ELIMINATE SMALL CLAIMS
COINSURANCE
✓ ~~> REWARD POLICYOWNERS WHO BUY ADEQUATE AMOUNTS OF
COVERAGE AND PUNISHING THOSE WHO DO NOT.
COINSURANCE
✓ ~~> DID/SHOULD TIMES LOSS MINUS DEDUCTIBLE
HOMEOWNERS
✓ ~~> WILL COVER YOUR PERSONAL PROPERTY ANYWHERE IN THE
WORLD.
COMMERCIAL PROPERTY
✓ ~~> COVERS BUSINESS PERSONAL PROPERTY ON PREMISES OR WITHIN
100 FEET OF PREMISES
Master01 | September, 2024/2025 | Latest update
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