Actual cash value
Actual cash value also referred to as "ACV." A method of valuing insured property that is computed by subtracting depreciation (based on the property’s age and condition) from its replacement cost. Compare "Replacement cost."
Actual cash value is a value of property at the time of its damage or loss, determined by subtracting depreciation of the item from its replacement cost.
Category: Automotive Engineering, Banking & Finance
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