ACV or “cash value” coverage is very different from Replacement cost coverage. It is designed to compensate you for the loss to your mobile home with a monetary settlement equal to the value of your home at the time of loss less your deductible. 

In most cases, the actual cash value of your home changes constantly. The ACV can be figured many ways. Among these are; using the sales price less depreciation, using the Blue Book value, and using recent sales prices in your area for similar coaches. 

An ACV policy would be a good choice to insure a secondary/seasonal dwelling in which you have a small amount invested. It may also be a good choice if you would not actually replace the mobilehome if it was destroyed. 

When considering the ACV amount, it is important to keep in mind that the face amount of the policy is merely the most a company would pay, If the ACV at the time of loss is less than the face amount, the company would be required to pay the ACV amount less the deductible, not the face amount of the policy. 

Replacement Cost coverage is generally a better value than. It eliminates a significant depreciation risk at time of loss and is preferred by lenders. 

(714) 545-0200

(800) 660-0204 from within California  

information@hwbins.com