Casualty Insurance policies in most states use Actual Cash
Value to measure losses on policies providing coverage based upon the
depreciated value of improvements. Other policies are written to provide
coverage to completely replace an improvement that is lost to a casualty event.
In either case, it is important to the insurance company and the property owner
to have the right amount of coverage. Appraisal companies typically offer
Insurance Replacement Cost Evaluations to determine the correct amount of
coverage, whether the policy is based upon Actual Cash Value or Replacement
Cost. Appraisers appraising for Actual Cash Value, begin with estimating the
Replacement Cost New and reduce this amount by the accrued depreciation. In
either case, it is important that the appraiser have a clear understanding of
Insurance Replacement Cost Evaluations.
Our firm offers Insurance Replacement Cost Evaluations
nationwide. We serve all fifty states and are available for International