Actual Cash Value
What is it? This is how much you could get for an item if you sold it today - - including your car. For example, if you paid $14,000 for your car; its actual cash value now might be $11,750. This is determined by the price of a comparable new vehicle minus deprecation, and is the amount your insurance company will pay you, if you elect to receive this coverage. This is a very important coverage if you policy does not cover you for collision.Added By: Kaylee
The Actual Cash Value definition has been viewed 652 Time(s)!
Send To Friends!
If you'd like to send the Actual Cash Value definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Actual Cash Value. If you need any more information on this term, please don't hesitate to contact us.