My policy says I can be reimbursed for an item’s “actual cash value”. What does that mean?
Short Answer
“Actual cash value” means the depreciated value of an item.
More Detail
Most travel insurance providers refer to “actual cash value” as it applies to the Baggage and Personal Items Loss benefit, which provides reimbursement for items that are lost, stolen, or damaged while traveling.
This information can vary based on the travel insurance policy. Please review the policy certificate to verify coverage. If you have questions about a specific policy, please contact us directly at 800-240-0369. Our customer service representatives are available from 8am to 10pm ET seven days a week and are delighted to help!
- Author: Steven Benna
- Title: Lead Data Analyst