actual cash value

noun

: money equal to the cost of replacing lost, stolen, or damaged property after depreciation

Examples of actual cash value in a Sentence

Recent Examples on the Web
Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.
If the owner gets into an wreck and the vehicle is declared a total loss with an actual cash value of $26,000 and a $1,000 deductible, the insurance company would offer a settlement of just $25,000. Jim Gorzelany, Forbes, 29 Nov. 2024 Riders and endorsements State Farm offers several riders and endorsements to customize your policy: Replacement cost coverage: This coverage pays to repair or replace items at their market value rather than actual cash value. Liz Knueven, CNBC, 27 Nov. 2024 Gap insurance: Pays the difference between your car’s actual cash value and the balance of your loan or lease if the vehicle is totaled or stolen. Brian Sloan, CNBC, 29 Oct. 2024 Choice has higher coverage limits, but you might only be compensated for an item’s actual cash value minus depreciation. Liz Knueven, CNBC, 30 Sep. 2024 See all Example Sentences for actual cash value 

Word History

First Known Use

1922, in the meaning defined above

Time Traveler
The first known use of actual cash value was in 1922

Dictionary Entries Near actual cash value

Cite this Entry

“Actual cash value.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/actual%20cash%20value. Accessed 8 Dec. 2024.

Legal Definition

actual cash value

noun
1
: the cost of replacing or repairing damaged property less any applicable depreciation
2

More from Merriam-Webster on actual cash value

Last Updated: - Updated example sentences
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