Actual Cash Value

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Actual Cash Value

Cost of replacing a property with another of the same kind and in similar condition. Calculated as the replacement cost less depreciation.

Actual Cash Value

In insurance, the cost to the insurance company to replace a good covered by a policy. The actual cash value is the original cost of the good, less depreciation and obsolescence. In order to receive coverage for a good's actual market value, that good must be listed specifically in the insurance policy. The actual cash value is related to a good's market value.
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