The ____________ method to settle claims is based on the current replacement cost of a damaged or lost item less depreciation.

Question

Quizplus · Accepted Answer

The actual cash value method takes into account the current replacement cost of an item but also factors in depreciation, which is subtracted from the replacement cost to determine the payout amount. This method is commonly used in property insurance claims.

The ____________ Method to Settle Claims Is Based on the Current