actual cash value

noun

: 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

Here again, the difference between what the lessee still owes on the contract and the vehicle’s actual cash value can be substantial, especially if the automaker originally artificially inflated the car or truck’s end-lease value or granted a hefty cash rebate to help spur sales. —Jim Gorzelany, Forbes, 29 Nov. 2024

If the owner gets into an wreck and the vehicle is declared a total loss with an actual cash value of $26,000 and a $1,000 deductible, the insurance company would offer a settlement of just $25,000. —Jim Gorzelany, Forbes, 29 Nov. 2024

Riders and endorsements State Farm offers several riders and endorsements to customize your policy: Replacement cost coverage: This coverage pays to repair or replace items at their market value rather than actual cash value. —Liz Knueven, CNBC, 27 Nov. 2024

Gap insurance: Pays the difference between your car’s actual cash value and the balance of your loan or lease if the vehicle is totaled or stolen. —Brian Sloan, CNBC, 29 Oct. 2024

Word History

First Known Use

1922, in the meaning defined above

Rhymes for actual cash value

• eigenvalue
• undervalue

Legal Definition

actual cash value

noun

1

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

2

: fair market value