The value of your property, based on the current cost to replace it minus depreciation.
The market value of your car.
- Browse Related Terms: Actual cash value, Actual cash value (ACV), Aftermarket Crash Part, Arbitration, Assigned risk plan, Auto Replacement Coverage, Betterment, Exclusion, Full Tort, Illinois Automobile Insurance Plan (assigned risk plan), Liability, Liability Coverage, Property damage (PD), Total Loss
The cost to replace an insured item of property at the time of loss, less the value of physical depreciation.
- Browse Related Terms: Actual cash value (ACV), Elevation Certificate, Federal Policy Fee, Grandfathering, Group Flood Insurance Policy (GFIP), Increased Cost of Compliance (ICC), policy, Post-FIRM Building, Pre-FIRM Building, Preferred Risk Policy (PRP), Probation Surcharge (Premium), Replacement Cost Value (RCV), Standard Flood Insurance Policy (SFIP), Submit-for-Rate, Waiting Period, Wave Height Adjustment, Write Your Own (WYO) Program
Replacement cost less depreciation, considering the age and condition of your property.
The value of your property, based on the current cost to replace it minus depreciation. Also see “replacement cost.”
- Browse Related Terms: Actual cash value, Actual cash value (ACV), Additional Living Expenses, Additional living expenses (ALE), Depreciation, Earthquake Insurance, Exclusion, flood insurance, Full Replacement Policy, Guaranteed Replacement Cost Coverage, Justified complaint, Loss of use, Renters insurance, Replacement Cost