Homeowners Blog

May

14
2008

What is the difference between replacement cost of my home and actual cash value? Ben Childress- Fayetville, N.C.

Filed Under (Home Insurance Q&A) by Home Agent

Ben,

The replacement cost of your home is how much it would cost to replace your home and its contents with new materials at current prices in the event of a loss. Actual cash value (ACV) is the value of your property at the time of a loss. ACV may be determined as the replacement cost minus depreciation.

For more home insurance defintions, visit our home insurance glossary to brush up on your home insurance lingo.

Thanks,

Your Agent@ HomeInsurance.com

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