What is RCV roof?

What is RCV roof?

Replacement Cost Value (RCV) RCV is the amount to replace or fix your home and personal items. Even if you purchased coverages that pay RCV, some types of property may only be paid at ACV. These may include: Roofs.

How do I know if I have a RCV or ACV policy?

If you have a RCV policy, the depreciation that is retained by the insurance company will be issued to you after the replacement of your damaged items is complete. If you have an ACV policy the depreciation that is retained by the insurance company is non-recoverable and you will not be issued this amount.

What does collision ACV mean?

Actual Cash ValueWhat does Actual Cash Value (ACV) mean? ACV is the cost to replace or repair an item that is accidently damaged, destroyed or stolen, minus depreciation.