PLMImedium
On a Michigan HO-3 with replacement cost on the dwelling, the insured typically must complete actual repair or replacement within how long after the loss to collect full RCV rather than ACV?
180 days to 2 years per policy form
B60 days
C6 months, measured from the date the insurer issues the initial ACV payment
D180 days
Why this is the answer
Most MI HO-3 forms require the insured to actually complete repair or replacement within a stated window — varying by carrier between 180 days and two years — before paying the held-back depreciation. Until completion, only ACV is paid.
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