Question: How does Actual Cash Value (ACV) differ from Replacement Cost Value (RCV)? 1. ACV pays for the full cost of repairs without depreciation, while RCV

How does Actual Cash Value (ACV) differ from Replacement Cost Value (RCV)? 1. ACV pays for the full cost of repairs without depreciation, while RCV accounts for depreciation. 2. ACV factors in depreciation when valuing damaged property, while RCV does not. 3. RCV is only available for commercial properties. 4. ACV only applies to properties with repetitive loss claims

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