Commercial flood coverage

Posted By: mdog76

Commercial flood coverage - 02/08/19 04:15 PM

On commercial property, can depreciation be taken off the value needed to be covered by flood insurance to get actual cost?
Posted By: rlcarey

Re: Commercial flood coverage - 02/08/19 05:33 PM

I don't understand your question as presented. But Actual Cost Value = Replacement Cost Value minus Depreciation.
Posted By: David Dickinson

Re: Commercial flood coverage - 02/10/19 03:58 PM

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.

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