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CCC VALUESCOPE Claim Services Market Report Copart, Inc  Form

CCC VALUESCOPE Claim Services Market Report Copart, Inc Form

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Instructions and help about CCC VALUESCOPE Claim Services Market Report Copart, Inc

today I'm going to explain the difference between RCV and ACV let's start with ACB ACV stands for actual cash value that's what the asset is worth the day it was damaged by weather okay the actual cash value is calculated by figuring out what the market value of the asset is so let's use your roof as an example if you have a 20-year shingle on your house and it's been in service for 10 years 50 percent of its life expectancy has already been used meaning it's only worth half of the market value that's the ACV what it is the day it was damaged so if your roof is twenty thousand dollars to replace back to New they're going to issue a check for ten thousand dollars that ten thousand dollars is going to hire a roofer get the materials going have Labor the materials and then once that's done some tip some pictures will be taken um some communication between the roofer and uh the insurance company isn't going to

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