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Machinery and Equipment Appraisal Actual Cash Value Insurance Value

Actual Cash Value (ACV) – For Insurance Purposes

Actual Cash Value (ACV) is a term used in estimating property damage for insurance purposes, and has several possible methods of establishing the value of insured property to determine the amount the insurer will pay in the event of loss. ACV is typically calculated one of three ways: (1) the cost to repair or replace the damaged property, minus depreciation; (2) the damaged property's "fair market value"; or (3) using the "broad evidence rule," which calls for considering all relevant evidence of the value of the damaged property.

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Machinery and Equipment Appraisals Actual Cash Value Insurance Value