Understanding Your Property Insurance: ACV and Replacement Cost Coverage

Focus (Industry News)

PUBLISHED ON: August 6, 2008

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Your property insurance policy covers the cost “to repair or replace damaged property with property of like kind and quality.” But if a fire destroys your hotel, your insurance company might refuse to pay the cost to replace it.

This article also appeared in Hospitality Lawyer's Operator Newsletter (July 2009).

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