What does actual cash value mean? | San Luis Obispo Personal Injury Attorneys
James McKiernan Lawyers
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What does actual cash value mean?

Author: James McKiernan Lawyers
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Because there are so many used vehicles on the road, every auto policy is written for actual cash value or ACV. This means that the values of your auto settlement are determined by similar vehicles currently on the market. ACV is based on the cost to replace your vehicle with similar new one, minus the depreciation based on the age of your vehicle.

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