To explain the difference we need to start out by explaining what each is separately. Replacement Cost Value “RCV” is a coverage that pays to purchase new at the current market value with no regards to depreciation. Actual Cash Value “ACV” is replacement cost value minus the depreciation. Depreciation is the decrease in adjusted value due to wear and tear or age.
There are plenty of reasons to put some of your belongings into a storage unit. You could be moving, jumping into spring cleaning or just needing more room to keep your stuff. According to the Self-Storage Association, 1 out of every 10 households in America rents a storage unit. The options are numerous and you can find one that will meet your every need. When it comes to insuring your property at a self-storage facility let’s clear this up and make it very simple for you.