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What is actual cash value or limited replacement cost coverage?

Short and easy answer it only gives you the money back for the value of the item at the time of loss. Very similar to how you insure a car. Example: If you have a 2013 Honda that you paid $30k. If you crashed said vehicle today its only worth say $15k. that is what you receive. This coverage can be applied to your home and personal property depending on the policy.

Category: Home Insurance
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