What is an actual cash value plan as opposed to one that is

by mrferrin » Fri Sep 17, 2010 08:44 pm

I need to know what does it mean to have an acv plan. where would I find this on my policy?

Total Comments: 5

Posted: Fri Sep 17, 2010 08:53 pm Post Subject: acv

what does this mean to have an actual cash value plan

Posted: Fri Sep 17, 2010 08:53 pm Post Subject: acv

what does this mean to have an actual cash value plan

Posted: Tue Sep 28, 2010 10:13 pm Post Subject:

I will assume you are referring to your automobile policy. Actual Cash Value is defined as Replacement Cost less depreciation. In other words, if the vehicle is totaled, the vehicle will not be valued at a new car’s price, but one of like kind and quality to your vehicle and its current condition.

Posted: Tue Sep 28, 2010 10:17 pm Post Subject:

Most automobile insurance policies will list “ACV” on the Declarations page next to the collision or other than collision deductible.

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