Quote:
Originally Posted by Slava
I'm not an insurance lawyer, and you won't like my comment, but usually homeowners policies are replacement cost if you replace and actual cash value if you take the cash. I'm surprised that those other companies wouldn't depreciate it.
|
Even so, how is my parents gold's ACV less than what it's actually worth? Gold doesn't depreciate. The actual cash value of gold that is worth $10,000 is still $10,000 real dollars is it not? Or am I missing something that is going completely over my head. I can get electronics getting depreciation deducted but gold? That just pisses me off. My parents have been with them for so long and have multiple properties insured with them and this their first claim on their house and it just seems like they want to squeeze onto every penny. I get insurance are out to make money but a little common sense should be used.