What is a RCV (Replacement Cost Value)?

Full definition

RCV stands for Replacement Cost Value — an insurance claim settlement that pays the full current cost to replace damaged property with new equivalent property, without subtracting depreciation. RCV is typically paid in two checks: an initial ACV check at first inspection, and a 'recoverable depreciation' check after work is completed.

Most modern HO-3 policies in MO and KS include RCV coverage on the building (gutters fall under this). Verify on your policy's declarations page.

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