TN Business Insurance Term: "Actual Cash Value"

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TN Business Insurance Term:

"Actual Cash Value"

Definition:

In Business Insurance, Actual Cash Value (also known as ACV), is a method of settlement in the event of a covered loss. The value of the lost or damaged property is based on the current market value for a like item in the same general condition.

A-C > D-F > G-L> M-Q> R-Z

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