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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (92784)10/24/2007 8:05:16 AM
From: carranza2Respond to of 306849
 
Yes.

Most policies are in fact replacement value policies as opposed to actual cash value, but this simply means that the insurer pays to replace with new material, with no offset for depreciation, up to the policy limit. If replacement value exceeds $200K, a total loss which it has to pay.

If the policy calls for payment of the actual cash value of your loss, you get paid to replace your hovel for another hovel.


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