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How are insurance claims handled on a partial loss?

There are two ways that partial loss insurance claims will be valued:

If the partial loss is valued at Replacement Cost you get new for old, like kind and quality in today’s dollars. Pretty simple.

However, if your partial loss is valued at Actual Cash Value there is going to be depreciation taken out among other things… watch the video to learn more.

Watch this video “How are Insurance Claims Handled on a Partial Loss?” for more details:

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This is video #92 of a one hundred insurance video series that The Murray Group is producing to provide insurance consumers with quick, valuable answers to their everyday insurance questions.

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Disclaimer: This article is for informational purposely only. There is no legal advice being suggested or proffered and the author assumes no responsibility or liability for the actions taken or not taken by the readers based upon such information.

created by Ryan Hanley