What is the difference between ACV and Replacement Cost?

When I purchase the renters insurance, I see the options of actual cash value and replacement cost. What is the difference?

The terms replacement cost and actual cash value are two methods to value your lost items. The ACV means the value of the items reducing the depreciated value. While the replacement cost is the full value of the items.

Jason W
Jason W
Answered on Nov. 29, 2021
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