Actual Cash Value definition

Actual Cash Value means purchase price less depreciation.

Actual Cash Value means current replacement cost for items of like kind and quality.

Actual Cash Value means the replacement cost of an insured item of property at the time of loss, less the value of Physical Depreciation as to the item damaged. As used in this definition, Physical Depreciation means a value as determined according to standard business practices.

Examples of Actual Cash Value in a sentence

• Coverage shall include Garage Liability and Garage Keepers on a Direct Primary Basis, including Auto Physical Damage, with limits of not less than $1,000,000 each accident Bodily Injury and Property Damage combined liability and Actual Cash Value auto physical damage.

• If You do not have collectible physical damage insurance on the Date of Loss, it is Your responsibility to advise the GAP Administrator immediately when the Constructive Total Loss is discovered, and GAP Administrator will arrange for an independent inspection or appraisal in order to calculate the Actual Cash Value of the Vehicle immediately prior to the Constructive Total Loss.

• This policy provides three methods of settling losses: Replacement Cost, Special Loss Settlement, and Actual Cash Value.

• This condition does not apply to any property to which Actual Cash Value applies.

• Actual Cash Value will take into account the cost of replacement, less any depreciation or obsolescence.

More Definitions of Actual Cash Value

Actual Cash Value means current replacement cost for items of like kind and quality less depreciation.

Actual Cash Value means purchase price less depreciation. “Baggage” means luggage, travel documents, and personal possessions whether owned, borrowed, or rented, taken by the Insured on the Trip.

Actual Cash Value means the fair market value of the stolen or damaged property at the time of loss.

Actual Cash Value means various factors shall be considered in the determination of actual cash value. Such factors shall include but are not limited to replacement cost less any depreciation and market value. In determining depreciation consideration shall be given to the condition of the property immediately before the loss or damage, the resale value, the normal life expectancy of the property and obsolescence.

Actual Cash Value means what the vehicle is worth on the date of the theft, loss and damage, and takes into account such things as depreciation and obsolescence. In determining depreciation, the Company will consider the condition of the vehicle immediately before the damage occurred, the standard market resale value and normal life expectancy.

Actual Cash Value means the fair market value of stolen or damaged property at the time and place of the loss. When determining fair market value: a. The age, mileage and physical condition of the property will reduce its value; and b. Depreciation and prior damage will reduce its value.

Actual Cash Value means the replacement cost of an insured item of property at the time of loss, less the value of physical depreciation as to the item damaged. "Physical depreciation," for purposes of this definition, means a value as determined according to standard business practices.