(Solved): 4. Calculating actual cash value Actual Cash Value versus Replacement Cost Coverage. The following ...

4. Calculating actual cash value Actual Cash Value versus Replacement Cost Coverage. The following table gives a partial list of Larry's significant property (that is, although only the first three items are listed within each category, the totals at the bottom of the table include the prices of unlisted property items). Item Furniture Couch set Outdoor lawn furniture Dining room table and chairs Appliances TV DVD player Sound system Furnishings Antique rugs Sculptures Throw blankets and pillows TOTAL: Purchase Price $3,500 3,125 1,000 750 125 1,000 11,250 10,000 375 $46,688 ACV $875 1,563 500 The actual cash value (ACV) of the guitar is 375 75 400 3,375 12,000 225 $30,347 Replacement Cost $3,850 3,750 1,200 900 150 1,200 13,500 12,000 450 $56,026 Larry has a $58,000 HO-1 form Insurance policy. No additional endorsements or floaters have been added to the policy. Therefore, the actual cash value (ACV) of his property. covered under this policy and the replacement cost of his property covered. One of his more valuable items is a custom electric guitar he purchased when his band starting gaining popularity. He purchased the guitar 6 years ago for $2,500, and the total life expectancy is 10 years. The custom electric guitar he purchased when his band starting gaining popularity would cost $2,800 if it was purchased today. Appliances TV DVD player Sound system Furnishings Antique rugs. Sculptures Throw blankets and pillows TOTAL: 750 125 1,000 11,250 10,000 375 $46,688 ago for $2,500, and the total is $2,800 if it was purchased today 375 75 400 3,375 12,000 225 $30,347 The actual cash value (ACV) of the guitar is 900 150 1,200 Larry has a $58,000 HO-1 form insurance policy. No additional endorsements or floaters have been added to the policy. Therefore, the actual cash value (ACV) of his property, covered under this policy and the replacement cost of his property. covered. 13,500 12,000 450 $56,026 One of his more valuable iter is not stom electric guitar he purchased when his band starting gaining popularity. He purchased the guitar 6 years ctancy is 10 years. The custom electric guitar he purchased when his band starting gaining popularity would cost onowing table gives a partial list cant property (that is, although only the first three items are listed within each category, the totals at the bottom of the table include the prices of unlisted property items). Item Furniture Couch set Outdoor lawn furniture Dining room table and chairs Appliances TV DVD player Sound system Furnishings Antique rugs Sculptures Throw blankets and pillows TOTAL: Purchase Price $3,500 3,125 1,000 750 125 1,000 11,250 10,000 375 $46,688 ACV $875 1,563 500 The actual cash value (ACV) of the guitar is 375 75 400 3,375 12,000 225 $30,347 Replacement Cost $3,850 3,750 1,200 900 150 1,200 13,500 12,000 450 $56,026 Larry has a $58,000 HO-1 form insurance policy. No additional endorsements or floaters have been added to the policy. Therefore, the actual cash value (ACV) of his property covered under this policy and the replacement cost of his property covered. is not One of his more valuable items is a custom electric guitar he purchased when his band starting gaining popula ago for $2,500, and the total life expectancy is 10 years. The custom electric guitar he purchased when his bais $2,800 if it was purchased today. purchased the guitar 6 years ng gaining popularity would cost gnment: Chapter 10 Protecting Your Property The following table gives a partial list of Larry's significant property (that is, although only the first three items are listed within each category, the totals at the bottom of the table include the prices of unlisted property items). Item Furniture Couch set Outdoor lawn furniture. Dining room table and chairs Appliances TV DVD player Sound system Furnishings Antique rugs Sculptures Throw blankets and pillows TOTAL: Purchase Price ACV $3,500 3,125 1,000 750 125 1,000 11,250 10,000 375 $46,688 $1,000 One of his more valuable items is a custom ago $2,500, and the total life expectancy $900 $2,800 if it was purchased today. The actual cash value (ACV) of the guitar is $875 1,563 500 $1,300 375 75 400 3,375 12,000 225 $30,347 Replacement Cost $3,850 3,750 1,200 Larry has a $58,000 HO-1 form insurance policy. No additional endorsements or floaters have been added to the policy. Therefore, the actual cash value (ACV) of his property. co $1,430 or this policy and the replacement cost of his property covered. 900 150 1,200 13,500 12,000 450 $56,026 itar he purchased when his band starting gaining popularity. He purchased the guitar 6 years rs. The custom electric guitar he purchased when his band starting gaining popularity would cost