What is the meaning of “actual cash value”?
The phrase “actual cash value” refers to what it would cost to replace your damaged vehicle with one in similar condition and with similar mileage. Since conditions such as mileage, unrepaired previous damage and tire wear are all considered in determining actual cash value, that sum may not equal the market price for an automobile of the same make, model and year.
The phrase “actual cash value” refers to what it would cost to replace your damaged vehicle with one in similar condition and with similar mileage. Since conditions such as mileage, un-repaired previous damage and tire wear are all considered in determining actual cash value, that sum may not equal the market price for an automobile of the same make, model and year.
The term “actual cash value” refers to how much it would cost to replace your damaged vehicle with one in similar condition and with similar mileage. Since conditions such as mileage, unrepaired previous damage, and tire wear are all considered in determining cash value, that sum may not be the same as the market price for an automobile of the same make, model, and year.
The term “actual cash value” refers to how much it would cost to replace your damaged vehicle with one in similar condition and with similar mileage. Since conditions such as mileage, un repaired previous damage, and tire wear are all considered in determining cash value, that sum may not be the same as the market price for an automobile of the same make, model, and year.
