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In the contents coverage, what is the difference between replacement cost and actual cash value?

The contents coverage may be contracted with the actual cash value (ACV) or replacement cost.

The replacement cost is the amount that you would need at the moment a loss occurs, to replace, reconstruct or repair the damage personal property with materials or items similar in class and quality, without deduction for depreciation. On the other hand, the actual cash value is the amount resulting from deducting from the replacement cost the depreciation of the property through time. If you select a Personal Package with actual cash value (ACV), when a claim arises the insurer will adjust the cost of the personal property affected by the depreciation.

We recommend you evaluate the total value of your personal property by making an inventory and determining if you need to increase this limit at an additional cost, or change it to replacement cost for an additional premium.


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1Withdrawals are subject to the availability of funds in your account.

2Deposits are subject to the provisions of the Bank’s Funds Availability Policy. Easy Deposit Mobile is a free service and only for Banco Popular customers with individual deposit accounts and/or commercial accounts (FlexiCuenta de Negocios® & B-Smart®). Customers selected in accordance with the Bank’s eligibility criteria. Checks deposited before 6:00 p.m. of a business day will be processed the same business day, subject to verification and deposit validation. In the back of the check to be deposited, enter your signature, account number and the phrase “For Deposit Only at BPPR.”