actual cash value

noun

Definition of actual cash value

: 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 There are two basic types of coverage for contents: replacement cost and actual cash value. sandiegouniontribune.com, "How to negotiate insurance before disaster strikes," 8 July 2018 The actual cash value is the replacement cost value, less depreciation for physical wear and tear. Staff Report, Houston Chronicle, "Understand what your flood insurance policy covers before hurricane season," 23 May 2018 Personal property is always adjusted at the actual cash value. Staff Report, Houston Chronicle, "Understand what your flood insurance policy covers before hurricane season," 23 May 2018 Policies pay out to policyholders based on either the replacement cost value or the actual cash value. Staff Report, Houston Chronicle, "Understand what your flood insurance policy covers before hurricane season," 23 May 2018 The company issued initial payments immediately after the storm to policyholders whose losses exceeded their hurricane deductibles, the release said, adding those initial payments were based on the actual cash value of damages caused by the storm. Ron Hurtibise, Sun-Sentinel.com, "Citizens reopens more than a third of Hurricane Irma claims," 29 Mar. 2018 The insurance company had set that value even before seeking an independent assessment of the building’s actual cash value, the counterclaim said. Mark Davis, kansascity, "Legal embers flare after St. Joseph fire lawsuit targeted Kemper Arena developer," 1 Nov. 2017

These example sentences are selected automatically from various online news sources to reflect current usage of the word 'actual cash value.' Views expressed in the examples do not represent the opinion of Merriam-Webster or its editors. Send us feedback.

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First Known Use of actual cash value

1922, in the meaning defined above

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Time Traveler for actual cash value

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The first known use of actual cash value was in 1922

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Cite this Entry

“Actual cash value.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/actual%20cash%20value. Accessed 30 May. 2020.

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More Definitions for actual cash value

actual cash value

noun

Legal Definition of actual cash value

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

More from Merriam-Webster on actual cash value

Britannica.com: Encyclopedia article about actual cash value

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