Actual cash value. The value of the property when it is damaged or destroyed. This is usually figured by taking the replacement cost and subtracting depreciation.
Actual Cash Value. The value of property determined by subtracting from current day Replacement Cost of the amounts determined by such factors as depreciation or obsolescence; not to be confused with real estate market value for buildings. ACV is traditionally an inexact term and its calculation can vary depending on a property's age, location, past and future usage, and other factors. (See also Replacement Cost)
Actual Cash Value. The value of your property, based on the current cost to replace it minus depreciation.
Valued policies pre-agree upon an amount of insurance for your vessel and equipment. In the event of a Total Loss of your vessel, this is the amount you would receive (less any applicable deductions). On an ACV policy, claims are subject to an adjusted settlement based upon the age and condition of the damaged item or vessel.
Actual Cash Value. Unless otherwise defined in the policy, actual cash value in California means fair market value. The fair market value of an item is the dollar amount that a knowledgeable buyer (under no unusual pressure) is willing to pay, and a knowledgeable seller (under no unusual pressure) is willing to accept.
Actual Cash Value. The cost of replacing or restoring property damaged at today's prices, less depreciation.
Actual cash value. Replacement cost of damaged or lost property less depreciation.
Actual Cash Value. The cost of replacing your property with something of like kind and quality minus an allowance for depreciation and a deductible (if applicable).
Actual Cash Value. Fair market value of stolen or damaged property at the time of the loss.
Actual Cash Value or wholesale value
Actual Cash Value. Unless otherwise defined in the policy, Actual Cash Value is defined in Pennsylvania as fair market value. The fair market value of an item is the amount at which a knowledgeable buyer (under no unusual pressure) would be willing to buy, and a knowledgeable seller (under no unusual pressure) would be willing to sell.
Actual Cash Value. The current cost of replacing an article with a similar one in the same condition and exposed to the same wear and tear. ACV is calculated by establishing the current replacement cost of any item and charging depreciation.
Actual Cash Value. The cost to replace an item of property at the time of loss, less an allowance for depreciation. Often used to determine amount of reimbursement for a loss.
ACTUAL CASH VALUE. An amount equivalent to the fair market value of the stolen or damaged property immediately preceding the loss. For real property, this amount can be based on a determination of the fair market value of the property before and after the loss. For vehicles, this amount can be determined by local area private party sales and dealer quotations for comparable vehicles.
Actual Cash Value. Cost of replacing or restoring property at prices prevailing at the time and place of the loss less depreciation.
Actual Cash Value. What it will cost to replace an item at the time of loss after subtracting depreciation
Actual Cash Value. ACV of property is calculated by determining what it would cost to replace the property and then adjusting this replacement cost by subtracting an amount that reflects depreciation.
Actual Cash Value. "Actual Cash Value" is the replacement cost of property damaged or destroyed at the time of loss, with deduction for depreciation. Actual cash value cannot exceed the applicable limit of liability shown in the declarations of the policy, nor the amount it would cost to repair or replace such property with material of like kind and quality within a reasonable amount of time after a loss.
Actual Cash Value. Replacement cost less depreciation, considering the age and condition of your property.
Actual Cash Value. The cost to repair or replace an insured item of property at the time of the loss, less physical depreciation. The value of physcial depreciation is based on the age and condition of the item. Personal property, i.e. contents, is always paid at ACV.
Actual Cash Value. Cost to repair or replace damaged property with materials of like kind and quality, less depreciation.
Actual Cash Value. How much you could receive for an item if you sold it today. For example, if you paid $14,000 for a car, its actual cash value now might be $11,750. This is determined by the price of a comparable new vehicle minus depreciation, and is the amount your insurance company will pay you if you elect actual cash value coverage.