Actual cash value
Actual cash value
Actual cash value is the replacement cost minus depreciation of a specific item of personal property. It's essentially the value for which the item could be sold, which is often less than what it would cost to replace it. Insurance companies sometimes use actual cash value to determine what to pay a policyholder after loss or damage to insured property.
Get Mortgage Rates
National Rates
| Loan Type | Today |
|---|---|
| 30 yr fixed | 4.83 |
| 15 yr fixed | 4.39 |
| 5/1 ARM | 3.69 |
Rates may contain points
