10/06/2026
$9,200 to $500 in the blink of an eye. Be sure to review your policy before signing.
DON’T WAIT UNTIL AFTER A STORM TO FIND OUT WHAT YOUR POLICY ACTUALLY PAYS
Please share this with your friends and family. A lot of homeowners do not know the difference between Actual Cash Value (ACV) and Replacement Cost Value (RCV) coverage until they have a claim, and by then its too late.
We’ve been fortunate so far this hurricane season, which makes now a good time to pull out your policy and make sure you understand what you actually have.
A lot of people choose ACV coverage because the premium may be lower. The problem is that the savings up front can cost you a lot more when you actually have to file a claim.
With RCV coverage, depreciation is generally recoverable once the covered repairs are completed and the required documentation is submitted, subject to the terms of the policy.
With ACV coverage, that depreciation may be non-recoverable.
Look at the real claim example attached.
The insurance company estimated the covered damage at $9,208.00.
They applied $4,675.72 in non-recoverable depreciation.
That brought the Actual Cash Value down to $4,532.28.
After the $3,980.00 deductible, the homeowner’s payment was only $552.28.
That is a huge difference when you are trying to make repairs after a major storm.
The point is not that ACV coverage is always wrong. The point is to know what you have before you need it.
Take a few minutes and review your policy. If you are not sure whether you have ACV or RCV coverage, ask your agent to explain it to you before the next storm.
If you already have a claim that you feel was denied or underpaid, or you just want a second opinion, AnchorPoint Public Adjusters offers free claim reviews.
We represent the policyholder, not the insurance company.
Give us a call 228-466-5644
