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.
Begin a Home Insurance Quote