ACV? Agreed Value? Replacement Cost? What do these mean? ACV stands for Actual Cash Value. As explained, the insurer tells you how much you will be recieving based on the cost to replace your property minus depreciation. Agreed Value is when the insurer pays you an agreed upon amount. Both parties decide how much the insured's property is worth, and that is the maximum amount the insurer will pay you in the event of a claim. Replacement cost is exactly what it sounds like! The insurer will pay y