Written by attorney Daniel Lloyd Monfiston

What is actual cash value and what is replacement cost value?

In Florida, actual cash value is considered replacement cost value minus depreciation. Replacement cost, in essence, is the amount of money fair market value that it takes to repair the damaged property. It's important that, in determining these amounts, you contact a qualified representative, contractor, or expert personnel through your attorney or representative in order to properly value and assess your claim.

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