RCV

Abbreviation with 2 meanings

RCV
Stands forRanked-choice voting
Meanings2
CategoriesGovernment & Politics, Business & Finance

RCV has two meanings. It stands for Ranked-choice voting (political) or Replacement cost value (insurance).

Meanings of RCV at a glance

#RCV stands forContext
1Ranked-choice votingGovernment & Politics › Political
2Replacement cost valueBusiness & Finance › Insurance

1. Ranked-choice voting

Government & Politics · Political Abbreviations

Voting method in which voters rank candidates in order of preference; if no candidate wins a majority of first choices, the last-place candidate is eliminated and those ballots count for their next choice, repeating until someone has a majority.

Example: Results won't be final for a week because the city counts RCV rounds after all mail ballots arrive.

Maine adopted RCV for primaries and federal elections in 2018, and Alaska began using it in 2022 after a ballot measure; Alaska voters narrowly rejected repeal in 2024. New York City uses it in primaries, while a number of states have banned it. In single-winner races it is the same method as instant-runoff voting (IRV).

2. Replacement cost value

Business & Finance · Insurance Abbreviations

Amount needed to repair or replace damaged property with new materials of like kind and quality, without deducting depreciation. Replacement cost policies typically pay ACV first and the remainder, called recoverable depreciation, once repairs are completed.

Example: The adjuster's estimate shows an RCV of $18,400 and $6,100 in recoverable depreciation.

Homeowners must usually finish repairs within a set period, often 180 days to two years, to collect the depreciation holdback. Guaranteed or extended replacement cost endorsements add protection when rebuilding costs exceed the dwelling limit.

More political abbreviations

  • Prop – Proposition
  • PVI – Partisan Voting Index
  • R – Republican (party label)
  • RBG – Ruth Bader Ginsburg
  • Rep. – Representative
  • RFK – Robert F. Kennedy
  • RGA – Republican Governors Association
  • RINO – Republican in name only

See all 91 political abbreviations →

More insurance abbreviations

  • PI – Professional indemnity insurance
  • PIP – Personal injury protection
  • PL – Public liability insurance
  • PUA – Paid-up additions
  • ROP – Return of premium
  • SIR – Self-insured retention
  • SLI – Supplemental liability insurance
  • SPIA – Single premium immediate annuity

See all 86 insurance abbreviations →

Edited by the AbbreviationList.com team. Spotted an error or a missing meaning? Contact us.