What's the Difference Between Actual Cash Value Coverage and Replacement Cost Coverage?
Published by National Association of Insurance Commissioners (NAIC). Jurisdiction US.
Exactly what this source supports
These are the only claims this record is used to carry anywhere in the library.
Under replacement cost value coverage, the policy will pay the cost to repair or replace damaged property using materials of a like kind and quality.
claim naic-acv-vs-rcv#c1Under actual cash value coverage, the policy will pay the cost to repair or replace the home or personal property based on its value, considering its age and wear and tear (depreciation).
claim naic-acv-vs-rcv#c2Replacement cost value is different from a home's market value, which includes the price of land and depends on the real estate market.
claim naic-acv-vs-rcv#c3
Each claim above has its own address. Link to a single claim with/sources/naic-acv-vs-rcv#c1, and read the same list with its identifiers, checksums and dates at naic-acv-vs-rcv.json. A checksum lets you tell whether a claim you cited still says what it said.
Pages that cite this source
Reviewer notes
Fetched 2026-08-31. Page shows a publication date of Jan. 2, 2025, so publishedDate is no longer recorded as unknown. The page does not discuss extended or guaranteed replacement cost, inflation protection, or coinsurance, and is not cited for any of those. Published: 2025-01-02