Common use of Actual value Clause in Contracts

Actual value. Actual value means the amount it would cost to repair or replace property insured, on the date of loss, with material of like kind and quality, with deduction for obsolescence and physical depreciation.

Actual value. Actual value means the amount it would cost to repair or replace property insured, on the date of loss, with material of like kind and quality, with deduction for obsolescence o bso lescence and physical depreciation.