What is actual cash value (ACV)?
What your roof is worth today after the carrier subtracts for age and wear — the smaller, first check on most claims.
Actual cash value, or ACV, is the depreciated value of the roof at the time of the loss. The carrier takes the replacement cost and subtracts wear and tear for the roof’s age, and what’s left is the ACV.
On a replacement-cost policy, the ACV is what you get in the first check. The held-back difference — the recoverable depreciation — comes later, once the roof is built and documented. On an ACV-only policy, that first check is essentially all you get.
Reading the ACV, the depreciation, and the deductible off the loss summary tells you exactly how the money is split and how much is still coming. It’s the starting point for every storm claim.