The actual cash value method of settling claims is based on the replacement cost of an item less depreciation.

Name: The actual cash value method of settling claims is based on the replacement cost of an item less depreciation.
Brand: Quizplus
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Quizplus · Accepted Answer

The actual cash value method takes into account the replacement cost of an item and subtracts its depreciation, resulting in the actual cash value of the item at the time of the loss.

The Actual Cash Value Method of Settling Claims Is Based