MN Public Adjuster Practice Questions - Minnesota Public Adjuster Exam

What is 'actual cash value' in a Minnesota property insurance claim?

The original purchase price of the property The replacement cost of the property minus depreciation for age, wear and tear, and obsolescence The tax assessed value The amount the insured paid for their policy

Correct Answer:

The replacement cost of the property minus depreciation for age, wear and tear, and obsolescence

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