This post is about finding the answer on your paperwork - not about what ACV or RCV means once you find it. The ACV vs RCV guide covers the concept in full; ACV vs. RCV: How Your Policy Type Affects Whether to File covers what the choice implies for a filing decision. If you already understand what the two words mean and just need to find which one applies to you, this is that post.
Where the Answer Usually Lives
The specific phrase you’re looking for is almost always in one of these places on your declarations page (the summary document at the front of your policy). Search each in order:
- A “Loss Settlement” section near the top of the dec page. This is the most common place. It usually spells out one of: “Replacement Cost,” “Actual Cash Value,” “Replacement Cost Loss Settlement,” or an insurer-specific phrase.
- A “Coverage A” line on the dwelling coverage summary. Some insurers label the loss settlement method inline with the dwelling coverage rather than in a separate section.
- An endorsement schedule — usually a list of endorsements by form number, near the end of the dec page. This is where a roof-specific override lives (see below).
The declarations page walkthrough covers the full dec-page structure and where each of these tends to appear for different carriers.
Exact Phrases to Search For
The wording varies. These all mean the same underlying thing:
Means RCV:
- “Replacement Cost”
- “Replacement Cost Value” / “RCV” / “RC”
- “Replacement Cost Loss Settlement”
- “Extended Replacement Cost” (RCV with an additional buffer above the stated coverage limit)
- “Guaranteed Replacement Cost” (RCV with the buffer effectively uncapped)
Means ACV:
- “Actual Cash Value” / “ACV”
- “Actual Cash Value Loss Settlement”
Neither exactly — read the fine print:
- “Functional Replacement Cost” — a hybrid; the payout is calculated on a functional-equivalent basis rather than like-for-like or fully depreciated. Ask the insurer for their specific method before assuming.
- “Roof Surfacing Payment Schedule” — replaces ACV or RCV entirely on the roof with a schedule. See Roof Payment Schedules: The Endorsement That Changes Everything.
The Trap: The Dwelling Is RCV, the Roof Is Not
This is the single most important thing to know about identifying your coverage: the dwelling coverage and the roof coverage can be different. A policy can say “Replacement Cost” as the main loss-settlement method for the dwelling, and separately - via an endorsement - carry an ACV-only settlement, or a payment-schedule settlement, for the roof specifically.
If a search of your dec page for “Replacement Cost” turns up a match, that is not by itself the final answer for a roof claim. The specific question is: does an endorsement on this policy modify the roof settlement?
Endorsements are usually listed by form number on a separate endorsement schedule, sometimes with a short description, and the full text appears in attached pages. Phrases that mean the roof is being settled differently than the main dwelling:
- “ACV — Roof” / “Actual Cash Value Roof” / “Roof Surfacing — ACV”
- “Limited Roof Coverage”
- “Roof Payment Schedule” / “Roof Surfacing Payment Schedule”
- “Roof Age Limitation Endorsement”
- “Cosmetic Damage Exclusion — Roof” (this doesn’t change ACV vs RCV, but it does modify what’s covered on the roof — see Cosmetic Damage Exclusions: When Dents Aren’t Covered)
If one of these appears on the endorsement schedule, the endorsement controls the roof settlement, and the answer to “what settlement type applies to my roof” is whatever that endorsement says — not what the main Loss Settlement line says.
Before Filing, Run Your Own Numbers Against Both
Once you’ve identified the settlement type, check what an ACV vs RCV outcome would look like for your roof’s age and material by running both scenarios through the calculator - the difference on an older roof can be substantial, and knowing the gap before you file is more useful than discovering it from a first check.
If You Genuinely Can’t Tell
If searching the dec page and the endorsement schedule doesn’t give a clear answer, the honest answer is that reading the policy on your own may not be enough for your specific document. Options in order of cost:
- Call your insurer or agent and ask in writing. Specifically: “Does my policy settle a total roof replacement at actual cash value or replacement cost, and does any endorsement modify the roof settlement?” Get the answer as an email or letter, not a phone conversation.
- Request a complete policy including all endorsements. You’re entitled to a copy of the full policy; the dec page alone is only a summary.
- A professional review — some homeowners have their policy reviewed by an attorney or a licensed insurance advisor. This isn’t necessary for most claims, but on a large loss or a genuinely ambiguous policy, it can be worth it.
Requirements around what a carrier must provide when you request a copy, and how quickly, are state-specific — check the state pages for rules where you live.
Being Honest About the Answer
The ACV vs RCV question determines a great deal about your payout, but it doesn’t change what the policy actually says. If your paperwork clearly identifies the coverage as ACV, that’s the answer; treating it as if it were RCV won’t change how a claim gets paid. Get the identification right first, then use it to decide whether filing makes sense at all — the should-you-file guide covers that decision.
