A. M. Best
A globally recognized credit rating organization that analyzes the financial strength and stability of insurance carriers and issues ratings according to their scoring system.
Accident
A sudden, unintentional, and unanticipated event that typically results in harm, damage, injury, or loss.
Actual Cash Value (ACV)
Replacement Cost minus depreciation. The cost of a new item with similar characteristics (e.g., make, model, mileage, options, condition, etc.), less depreciation. For personal auto insurance, this generally equals the market value of a vehicle. (See Replacement Cost)
A. M. Best
A globally recognized credit rating organization that analyzes the financial strength and stability of insurance carriers and issues ratings according to their scoring system.
Accident
A sudden, unintentional, and unanticipated event that typically results in harm, damage, injury, or loss.
Actual Cash Value (ACV)
Replacement Cost minus depreciation. The cost of a new item with similar characteristics (e.g., make, model, mileage, options, condition, etc.), less depreciation. For personal auto insurance, this generally equals the market value of a vehicle. (See Replacement Cost)
