What is the difference between a settlement based on Replacement Cost and one based on Actual Cash Value? Which one does Duuo offer?
Replacement Cost refers to the cost of repairing or replacing your contents. It’s like the cost of buying a brand new version of the item that was damaged or stolen. Actual Cash Value means you would just receive what your item is worth today. So that likely would not be enough money to buy a new replacement. That’s why Duuo offers Replacement Cost!