Important Notice: Our web hosting provider recently started charging us for additional visits, which was unexpected. In response, we're seeking donations. Depending on the situation, we may explore different monetization options for our Community and Expert Contributors. It's crucial to provide more returns for their expertise and offer more Expert Validated Answers or AI Validated Answers. Learn more about our hosting issue here.

What are the differences between actual cash value/replacement costs and all risks/named perils?

April 26, 2017actual cash costs differences named Perils replacement value

0

Posted

What are the differences between actual cash value/replacement costs and all risks/named perils?

1 Answer

0

Posted

Replacement cost is the current cost to replace an item. Actual cash value is the replacement cost less depreciation for age. Special form coverage covers all losses except those that are excluded. Named perils cover only specifically named perils such as fire, lightening, windstorm, etc.