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Actual cash value (ACV) refers to the worth assigned to an insured item in the event of a covered loss or damage. It takes into account factors like the item’s original cost, any applicable deductibles or policy limitations, and how it has changed over time.
The ACV represents the current value of the item, which may be less than its original cost due to factors like depreciation, age, or becoming outdated. Understanding ACV is important when determining how much you will be reimbursed or the cost of replacing a damaged or stolen item in an insurance claim.
You will be able to see the actual cash value of your insured possessions in detail on the policy declaration page that PSIC will send you.
By reviewing the ACV values, you can assess whether the assigned protection adequately reflects the value of your assets. It is essential to ensure that the coverage level aligns with the potential cost of replacing or repairing each item in the event of a loss.
Keeping this in mind allows you to make informed decisions and take appropriate measures to protect your assets effectively.
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5515 E. La Palma Ave. Ste. 150, Anaheim, CA 92807
Copyright © McGraw Insurance Services, L.P., Delaware L.P., 5515 E. La Palma Ave. Ste. 150, Anaheim, CA 92807, License 0K06900 / National Producer No. 17486061 The insurance policy, not the contents of this website, forms the contract between the insured and the insurance company. The policy may contain limits, exclusions and limitations that are not detailed on this website. Coverage may differ by state.
Privacy Notice at Collection for CA employees
Last updated: June 27, 2023
We take the privacy of our employees and applicants very seriously. Please read this notice carefully as it contains important information on the personal information that we collect, why we collect it, how long we keep it, and that it is not sold to third parties.
Other terms used but not defined will have the meaning set forth in the CCPA, as amended by the CPRA, Cal. Civ. Code §§ 1798.100—1798.199.100, and accompanying regulations set forth under Cal. Code Regs. tit. 11, § 7000 et seq.
Categories of Personal Information Collected
Purposes for Collecting and Using Your Personal Information
Managing Human Resource Functions:
Conducting business operations:
Monitoring:
Compliance with:
Investigating:
We will not retain your personal information for longer than necessary for the purposes set out in this notice. Different retention periods apply for different types of personal information.
When it is no longer necessary to retain your personal information, we will delete or anonymize it.