Glossary term
Actual cash value (ACV)
Actual cash value (ACV): A car's worth just before a loss. The basis for deciding whether collision is still worth carrying.
Where this term matters
Guides and entries on this site that use the term.
Guide
Car Insurance Coverage in Retirement
How coverage needs change after retirement: liability to protect savings, medical coverage, collision on an ageing car, umbrella policies, and coverage when you drive less.
Entry
Dropping Collision and Comprehensive Insurance on an Older Car in Retirement
Learn when retirees should drop collision and comprehensive coverage on an older vehicle, how the 10x rule works, and how to protect your savings.