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Insurance Learning Center > Insurance Glossary > Actual Cash Value

Define: Actual Cash Value

Actual Cash Value

Actual cash value (ACV) is the cost to replace damaged or destroyed property with comparable new property, less depreciation and obsolescence. Example: A 10 year old mattress will not be replaced at full value because of a decade of depreciation. Refer to Replacement cost for coverage that would not depreciate the property.

 
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