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A basic form of dwelling policy Dp-1 will use an actual cash value basis to settle which losses
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Anonymous
Feb 29
A basic form of dwelling policy Dp-1 will use an actual cash value basis to settle which losses ?
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Feb 29
A basic form of dwelling policy DP-1 will use an actual cash value basis to settle losses for the dwelling itself. This means that the insurance company will pay out the current value of the property at the time of the loss, taking into account depreciation. This is in contrast to a replacement cost basis, which would pay out the full cost of replacing the property without deducting for depreciation.
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