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Total Loss Network / Glossary
Actual cash value (ACV)
A measure of the covered vehicle’s value before the loss, interpreted under the policy and applicable law. It is not automatically the purchase price, the loan balance or the price of a brand-new replacement.
Why the term matters
Compare the report’s vehicle description and market evidence before looking at settlement deductions. A $20,000 vehicle value and a $19,500 payment may differ because of a deductible, not because two different vehicle values were used.
A question to ask
“Where does this term appear in my report or policy, and how does it affect this specific calculation or next step?” Ask for a written explanation tied to the document.
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