Let us look atthe actual cash value calculationto understand the concept better.For instance, say Mr. ABC got serious dents in his five-year-old car while parking. He approaches his insurance company to get a new one. If an insurer were to calculate the true monetary worth of Mr. ABC'...
Calculate the current depreciation of your home, meaning anything that would bring down the value. Take into consideration the age, wear and tear on the home and any potential repairs. Subtract the result of Step 2 from Step 1 to determine your home’s actual cash value. Tips Don’t incl...