Actual Cash Value

• Vires v. Grange Mut. Cas. Co., (Ohio 2011)

Insurance; Coverage; Property insurance; R.C. 3929.25; Valued policy law; Total loss; Replacement provision; Actual cash value – Because the insureds elected not to repair or replace a structure destroyed by fire, they were entitled to recover only the actual cash value rather than the full face value of the policy in accordance with R.C. 3929.25, Ohio's valued policy statute.

• Ohio Supreme Court

• Actual Cash Value

The fair or reasonable cash price for which a property could be sold in the market in the ordinary course of business, and not at ...

• West's Encyclopedia of American Law
• A–Ba

• Swiss Re Announces WTC Actual Cash Value Amount.

Business Editors NEW YORK--(BUSINESS WIRE)--Aug. 3, 2002 Swiss Re said today that there are no circumstances under which World Trade Center leaseh...

• Business Wire
• August 03, 2002

• Auto Insurance Premium has Lot to Do with Where You Live

The actual cash value of your car is based on the value of your car at the time of the accident, taking into account its current market value. [...] the insurance company's obligation is to repair the car based upon its actual cash value, not its replacement cost." * What is meant by aftermarket parts? "Auto repair shops may use aftermarket and/or used parts when repairing or replacing a damaged part.

• Mississippi Business Journal, The
• October 15, 2009

• On a Roll with Truck Insurance

Trucking is a growing niche. Interstate Motor Carriers Agency was started in 1936 and has always specialized exclusively in trucking insurance. Most of the business comes from referrals; however, the agency also obtains clients through various prospecting and marketing activities. Sometimes it meets prospects as a result of such association involvement. Assuming that a prospect's Safety and Fitness Electronic Records report checks out OK, it schedules a visit. The truckers liability policy is perhaps the most important. Indeed, it encourages truckers to buy as much liability insurance as they can afford. Physical damage insurance on trucks almost always is written on an actual-cash-value basis. Trucking companies are required to provide evidence of insurance to their clients, regulators...

• American Agent & Broker
• Vol. 78 Nbr. 10, October 2006

• 7 CFR 1806.2 - Companies and policies.

... percentage (usually 80 percent) of their value and that the company will not be liable for a grea... or the depreciated replacement value (actual cash value) of the buildings at the time of the lo...

• Code of Federal Regulations - Title 7: Agriculture

• Vehicle Collision Repair Costs Down

The average cost of vehicle collision repairs for the second quarter declined by 3% compared with the same 2003 period. Data and solutions provider Mitchell International Inc, San Diego, said the decrease was due to recession-related factors and reflects the aging vehicle fleet and lower actual cash value that the current economic conditions have caused. Mitchell's report found that at $11,995, the average actual cash value of vehicles appraised for collision losses during second-quarter 2009 reflects the aging vehicle fleet and lower ACV that the current economic conditions have caused.

• American Agent & Broker
• Vol. 81 Nbr. 9, September 2009

• Allstate: There Are Smart Ways to Save On Insurance

In a rush to save money, be careful not to cut corners in areas that help protect you and your family," said Allstate Exclusive Agent Kimberleigh Bailey. "Although it is important to save money in the short-term, you could find yourself unable to pay for your auto repairs or for liabilities to others in the case of an accident. Putting these cost-savings tips into action doesn't have to be complicated. Currently, Allstate is offering all consumers-Allstate customers or not-a free review of their current insurance limits and deductibles through the "Good Hands Coverage Check-up." An Allstate agent can point out where they may need more or less coverage. Information on local Allstate agents can be found at www.allstate.com or by calling 1-800 Allstate. The Allstate Corporation (NYSE: AL...

...2. Buy the right car. A car's value, age, safety record and repair costs, as well as t... policies typically cap coverage at the actual cash value of the car, the older your car is, the ...

• Chicago Defender
• November 10, 2009

• Mobile Homes

are typically covered by providing physical damage on a basis similar to an automobile policy or on a homeowners (basic, broad or special cause of loss) basis. The Exposures range widely from modest, anchored trailers existing on separate lots or within mobile home parks to large units that easily rival the cost and luxury of traditional, site-built residences. Mobile home insurance is often provided on an actual cash value basis, so significant depreciation can be a major concern for owners of . Mobile home insurers offer separate endorsements such as Vendors or Lienholders Single Interest coverage, Theft coverage and Trip Collision Coverage.

• Rough Notes
• Vol. 151 Nbr. 3, March 2008

• Cut Costs in Your Sales Department

Use actual cash value (ACV) for trade-ins and sales commissions. When customers demand an unrealistic amount of money for their trade-in, dealers often comply, recouping the loss by inflating the price of the unit they're selling. Problem is, some dealers do this but don't account for it. Salespeople are paid their commissions based on a margin calculated using the inflated sales price. [Hal Ethington] said he once discovered a dealer paying $60,000 extra per year in commissions. LightspeedNXT users can avoid this problem by entering into the system both the trade-in allowance and the ACV. When calculating ACVs, take into account repair costs, price-book values, auction values and what's going on in your local market. Maximize your gross margin percentage on unit safes. Ethington said d...

• Dealernews
• December 21, 2009