Actual Cash Value of My Car vs. Replacement Cost
After you’re involved in an accident, your main concern is probably centered on getting your vehicle or property back to the condition it was in before the accident, or at least receive payment to cover damages. While that is also your insurance company’s goal, the methods that they use to decide how to ensure that you’re fairly compensated may be confusing. Keep reading to learn about the difference between actual cash value and replacement costs and what you can expect if your vehicle is damaged in an accident.
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