Some courts have ruled that an alternative to “replacement cost less depreciation” should be used to determine the actual cash value of a property loss. Under this alternative, the value of property lost is determined by the price a willing buyer would pay a willing seller for the property in a free market. This method of determining actual cash value is called the

Insurance

Are you looking for the correct answer to the question “Some courts have ruled that an alternative to “replacement cost less depreciation” should be used to determine the actual cash value of a property loss. Under this alternative, the value of property lost is determined by the price a willing buyer would pay a willing seller for the property in a free market. This method of determining actual cash value is called the”? If that’s the case, you don’t have to worry anymore. AzAnswer team is here with the right answer to your question. Please check below to know the answer.

Some courts have ruled that an alternative to “replacement cost less depreciation” should be used to determine the actual cash value of a property loss. Under this alternative, the value of property lost is determined by the price a willing buyer would pay a willing seller for the property in a free market. This method of determining actual cash value is called the

Options

A) intrinsic value method.
B) valued policy method.
C) fair market value method.
D) reconstruction cost method.

Answer: C) fair market value method.

The above question Some courts have ruled that an alternative to “replacement cost less depreciation” should be used to determine the actual cash value of a property loss. Under this alternative, the value of property lost is determined by the price a willing buyer would pay a willing seller for the property in a free market. This method of determining actual cash value is called the, Was part of Insurance MCQs & Answers. I hope you got the correct answer to your question. Have a great time ahead.