Coverage for non-dwelling properties (and even some dwellings) won't pay above Actual Cost Value (ACV). As Randy defined above, ACV is the Replacement Cost Value (RCV) less physical depreciation.
You might find our article "FLOOD: Flood Insurance Insurable Value Article" helpful. You can download it for free from our website. Go to:https://www.bankerscompliance.com
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You'll see this position paper listed.