Actual cash value coverage may lower your premiums, but it could also leave you underinsured. Many, or all, of the products featured on this page are from our advertising partners who compensate us ...

In California FAIR Plan Assn. v. Garnes (No. A143190, filed 5/26/17), a California appeals court ruled that “total loss” under Insurance Code section 2051 refers to physical damage or loss, not the ...

In a decision that further clarifies the definition of actual cash value in cases involving partial-loss insurance coverage for home repairs and replacements, a Superior Court panel has unanimously ...

Property policies typically provide, if there is coverage, that the insured can recover for the costs to repair or replace the property damaged by loss. But when an insured does not repair or replace ...

Les Masterson is a deputy editor and insurance analyst at Forbes Advisor. He has been a journalist, reporter, editor and content creator for more than 25 years. He has covered insurance for a decade, ...

It's free, simple and secure. In home insurance, recoverable depreciation is the difference between your property's actual cash value and replacement value. Home insurance companies usually pay ...

Actual cash value means that you will not get a check from the insurance company for enough money to replace your damaged, lost, or stolen item with a brand new version. ACV home insurance policies ...

Tori Addison is an editor who has worked in the digital marketing industry for over five years. Her experience includes communications and marketing work in the nonprofit, governmental and academic ...

Craig Anthony, CFA, is the founder and CEO of the Craig Anthony Group LLC. He is also an Investopedia contributor and published author. Ebony Howard is a certified public accountant and a QuickBooks ...