Insurance Terms

Actual Cash Value (ACV)

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The fair market value of property, typically calculated as replacement cost minus depreciation.

In Personal Injury Cases

When your car is totaled, the insurance company pays actual cash value—what your car was worth just before the accident, not what you paid for it.

Related Legal Terms

Total Loss

When a vehicle is so damaged that repair costs exceed its value, or it's impossible to repair safely.

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