Do you know how your commercial property policy would respond in the event of a loss?  The kind of valuation that your policy has can make a big difference in how much you could be reimbursed for a claim.

RC or Replacement Cost is simply the cost to replace an item or structure with like kind and quality to its pre-loss condition, not to exceed the policy limit.  In other words, it will pay to replace the damaged or stolen property and does not take into consideration the depreciation of the item.  This is usually the most favorable to the policyholder.

In contrast, your policy could be written with ACV or Actual Cash Value.  With this valuation, the policy will pay the amount needed to replace the item minus depreciation.  The difference could be significant.

Please contact your agent at The Starr Group today to make sure you have the proper valuation set up for your needs.