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Replacement Cost – This loss valuation method pays for the cost to repair or replace damaged items with like kind and quality without deduction for depreciation.  You will normally see this valuation with newer, occupied buildings. Actual Cash Value – Actual cash value is the amount equal to the replacement cost, minus depreciation to the…

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Did you know… Broker of Record letters also known as BORs or AORs (Agent of Record) allows the policy holder to designate a new broker for their insurance policies without changing companies. This allows the new agent to manage the policyholder’s insurance. Once the Broker of record is accepted by the carrier the broker of…