Replacement cost and actual cash value is the same thing.

Question

Quizplus · Accepted Answer

Replacement cost and actual cash value are two different factors in insurance. Replacement cost refers to the cost it would take to replace or repair damaged property with new property of like kind and quality. Actual cash value, on the other hand, takes into account depreciation and is the cost to replace or repair damaged property with similar used property. Therefore, they are not the same thing.

Replacement Cost and Actual Cash Value Is the Same Thing