Categories: property
Often described as replacement cost minus depreciation (policy and jurisdiction dependent).
Synonyms:
ACV
Related Articles:
- Right to Include Estimated Costs In Policy Coverage Limits ReinforcedTwo Recent Business Litigation Decisions Reinforced Insurers’ Right to Include Estimated Debris Removal Costs When Calculating Coverage Limits for property Losses.
- InSurOp-Ed: Am I Legally Liable?How do you answer questions like this: If ‘this’ happens, am I legally liable?
- MA Court Dismisses Lender’s Claim Auto Insurer’s Total Loss Calculations Violated DOI RegulationSource One Financial Corporation sued GEICO seeking a declaratory judgment that GEICO’s valuations resulting from reports compiled by Certified Collateral Corporation (“CCC”) did not comply with the DOI’s regulation.
- Supreme Court Rules Auto Policies Cover Vehicles’ Post-Repair Losses of ValueThe SJC has issued a widely anticipated decision initiating a sea change in the property damage recoverable under the standard Massachusetts automobile policy for all insurers within the Commonwealth.
- MA Mandatory Endorsement M-0099-S Adopted for Policies Effective April 1, 2012March 14, 2012 - CAR Announced that the Division of Insurance has approved the MA Mandatory Endorsement M-0099-S Adopted for Policies Effective April 1, 2012.
- Seven Points Agents Should Know About Inherent Diminished Value Property Damage ClaimsKey Points to consider after Recent SJC Decision
- GM Financial Will Pay Over $1.8 Million For GAP Coverage Refunds and Loan ViolationsMore Than 2,000 Massachusetts Consumers May Be Eligible for Restitution
- 5 Points On New Ruling: Unreasonable Storage Reduces ACV PaymentA short opinion with a disproportionate impact on first-party property damage total loss claims.
- 9 Tips for Agents Advising Insureds About Auto Body Repair ScamsGet All the Repairs Your Insurance Company Has Paid For
- When Limited Market Access Meets Surplus Lines: An E&O ProblemMassachusetts producers face E&O risk when surplus lines placements lack documented diligent effort. A breakdown of BR-7, §168, and defensible file practices.
