What Is Actual Cash Value (Acv) Vs. Replacement Cost Coverage?
All Missouri auto policies are written for ACV. Because of the generally large availability of used vehicles, auto settlement values are determined by similar vehicles available in the market. Homeowners can endorse their policy to change their ACV to replacement cost coverage. ACV is the value of an item (including depreciation) at the time of the loss. Replacement cost equals a new item’s cost without depreciation. Replacement cost value is not paid until the item is actually replaced.
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Attorneys Rated by Super Lawyers®
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Average experience reflects the average number of years that the attorneys at this firm have been licensed to practice law. The experience is based on data from the respective state bar association, where this information is available.