1.Actual cash value.
"Actual cash value", as used in section 3002, means the replacement cost of an insured
item of property at the time of loss, less the value of physical depreciation as to
the item damaged. "Physical depreciation" means a value as determined according to
standard business practices.
1989, c. 316, §2 (NEW)
1989, c. 316, §2 (NEW).
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