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Armour Alberta Insurance Blog

Actual Cash Value vs. Replacement Cost

Posted by Rob Marusin

Feb 22, 2012 9:54:00 AM

At Armour Insurance we work with you to try and obtain insurance that will provide payment based on the replacement cost of damaged or stolen property. A Replacement Cost Policy compensates you for the actual cost of replacing your property. If your golf clubs are stolen, a replacement cost policy will reimburse you the full cost of replacing it with new golf clubs of like kind and quality without taking into consideration the fact that your clubs are four years old. In other words your settlement is not depreciated when you have replacement cost.  

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Topics: Replacement Cost, Actual Cost, Insurance Claim

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