Understanding Homeowners Insurance: Replacement Cost Value Vs. Actual Cash Value

What’s the difference between replacement cost value and actual cost value? When looking over your homeowners insurance policy, you are likely to run into industry specific terms that you might be unfamiliar with. For instance, you might encounter the terms “replacement cost value” or “actual cost value.” A huge part of understanding your coverage is understanding what these terms mean and how they affect your policy. Here’s what you need to know about the difference between replacement cost Read More