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INSURANCE
ACV stands for Actual Cash Value. It is the replacement cost of your roof minus depreciation — the carrier’s estimate of how much wear the existing roof has used up. ACV is the first check on most NC storm claims and the only check on ACV-only policies.
HOW IT SHOWS UP IN NC ROOFING
On a true RCV policy, ACV is just an interim number — the carrier withholds the depreciation portion until the work is done, then releases it. On an ACV-only policy, the ACV is everything you get. A 15-year-old architectural shingle on a 25-year expected life is depreciated 60 percent, so the gap between ACV and the cost of a new roof can be substantial.
In NC we run into ACV-only outcomes two ways. First, the homeowner picked a cheaper-tier policy at renewal without realizing the roof clause changed. Second, an age-triggered conversion clause kicked the roof to ACV when it crossed a threshold. Either way, the homeowner needs to know before they get the first check, not after.
RELATED TERMS
See the full glossary index for all 30 terms.
FREE INSPECTION
Thirty-minute inspection. Written report. Photos of every slope. No charge whether or not you file a claim.
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(919) 892-0034FREE INSPECTION
Free 30-minute inspection. Written report. Photos of every slope. Same-week scheduling across NC. Call (919) 892-0034.