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 The actual cash value of your 10-year-old roof, for example, is worth a lot less than a new one. Globe Staff, BostonGlobe.com, 27 May 2022 Consider a homeowners insurance policy that covers replacement cost instead of actual cash value. Ashley Kilroy, Robb Report, 3 Oct. 2021 Some insurance companies give you a choice between actual cash value coverage and replacement cost coverage. Ashley Kilroy, Robb Report, 5 Nov. 2021 With actual cash value, your insurer will only reimburse you for the value of possessions minus depreciation. Ashley Kilroy, Robb Report, 3 Oct. 2021 Additionally, the auto rental collision damage insurance on the Chase Sapphire Preferred is primary coverage, but will only cover you for up to the actual cash value of the rental car. Jennifer Yellin, CNN Underscored, 24 Dec. 2020 These same insurance companies will only write actual cash value policies for homes with roofs over 15 years old. Reuben Saltzman, Star Tribune, 8 Sep. 2020 Homeowners insurance companies regularly send out notices to their clients with roofs over 15 years old, switching them from replacement cost to actual cash value for their roof. Reuben Saltzman, Star Tribune, 8 Sep. 2020 There are two basic types of coverage for contents: replacement cost and actual cash value. sandiegouniontribune.com, 8 July 2018 See More

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.

First Known Use of actual cash value

1922, in the meaning defined above

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Time Traveler for actual cash value

Time Traveler

The first known use of actual cash value was in 1922

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Dictionary Entries Near actual cash value

actual

actual cash value

actual cost

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Statistics for 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 9 Aug. 2022.

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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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