FRIDAY, SEPTEMBER 15, 2017
Actual cash value (ACV)
· When you have a claim, Truck insurance companies pay based on actual cash value of your truck. This is exactly like it sounds. It’s the market value of your truck. In personal lines of insurance some companies offer replacement value. Unfortunately this is not an option for commercial policies. Truck insurance companies will pay the lesser amount between the ACV and the Stated amount.
Posted 6:49 PM
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