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North Dakota, USA | State laws vary but in my state, you would get the amount that is listed on the policy. That being said, on a partial loss the replacement cost policies are set up so you will get the depreciated actual cash value (ACV) right away, and after you replace the building you will get a settlement for the rest. If you don't replace it, you just get ACV. Maybe NE allows that on a total loss also. Check with your agent.
Eric in ND. | |
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property insurance
