Actual Cash Value (Glossary Word)

A calculation of value that pays damages equal to the replacement value of damaged property minus depreciation. Depreciation includes diminishment in value due to time and wear.

Other users searching for also searched for some of the following glossary words and FAQs.

Glossary Words

• Depreciation
• Totaled
• Constructive Total Loss
• Loan, Lease (Gap) Coverage

FAQs

• What happens after I file a claim?