Actual Cash Value Vs Replacement Cost: What Illinois Homeowners Need to Understand 
 
Actual Cash Value (ACV) policies pay the depreciated value of damaged property, while Replacement Cost Value (RCV) covers the full cost to repair or replace without depreciation. In Illinois, your choice affects both monthly premiums and potential out-of-pocket expenses after a claim. Regional factors like Chicago's lake effect snow or Southern Illinois' tornado risks make this decision...
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