Ohio ACV vs RCV Roof Coverage
Replacement Cost Value (RCV) = full roof paid for; Actual Cash Value (ACV) = replacement cost minus depreciation. Since Feb 7 2024, Fannie Mae forbids ACV-only policies on homes it finances, forcing most Ohio homeowners to carry RCV. If hail hits a 15-year-old roof estimated at $18 k, ACV might write an $8 k check […]