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The definitions contained herein are for general information only and are not
designed for use in connection with the interpretation of any insurance policy
or annuity policy issued through Insurance Answer Center.
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Home Insurance Glossary Terms 4 A B C D E F H I J L M N O P Q R S T U V W |
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Actual cash value |
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An actual cash value policy pays the amount needed to replace damaged or destroyed property, minus depreciation. This figure is based on your home's replacement cost, minus depreciation based on the wear and tear of age. For example, a 10-year-old television will not be replaced at full value because of a decade of depreciation. |
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| Answer Financial(R) Inc. offers insurance products and services through its licensed affiliates Insurance Answer Center(R) Inc. (California License No. 0B99714), Answer Center Insurance Agency, Inc., and other affiliates. Answer Financial is not an insurance company. Insurance plans and services are from insurance companies and other licensed insurance-related providers. Not all products available in all states. Rates subject to change. |
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