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ACV, RCV, and Depreciation

ACV-actual cash value is what it would cost to replace it today minus depreciation based on how many years you had it.

They write you a check for ACV. If your policy covers replacement value, when you buy a new one, they pay the difference (the depreciation). If you don't buy a new one, that's it.

State Farm gives us 2 years to claim contents.



Buy a new treadmill.

An antique table was standing in the water and all the feet split.
We took it to an antique woodshop guy. He said it wasn't cost effective to fix.
SF asked for a professional to document what replacement cost might be. and sent us a check for that amount.