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
These examples are automatically compiled from online sources to illustrate current usage. Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback about these examples.
Choice has higher coverage limits, but you might only be compensated for an item’s actual cash value minus depreciation. Liz Knueven, CNBC, 30 Sep. 2024 Standard car insurance pays out based on the actual cash value of your vehicle, which accounts for depreciation. Liz Knueven, CNBC, 30 Sep. 2024 Option add-ons Option to replace items at replacement cost instead of actual cash value, optional identity fraud protection coverage. Liz Knueven, CNBC, 12 Sep. 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. Ryley Amond, CNBC, 8 Aug. 2024 See all Example Sentences for actual cash value 

Word History

First Known Use

1922, in the meaning defined above

Time Traveler
The first known use of actual cash value was in 1922

Dictionary Entries Near 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 5 Nov. 2024.

Legal Definition

actual cash value

noun
1
: the cost of replacing or repairing damaged property less any applicable depreciation
2

More from Merriam-Webster on actual cash value

Last Updated: - Updated example sentences
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