Actual cash value and replacement cost are the most common means of valuing property loss.

Name: Actual cash value and replacement cost are the most common means of valuing property loss.
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Actual cash value typically accounts for depreciation of the property, while replacement cost covers the expense of replacing the lost or damaged item with a new one, making them the most common methods for valuing property loss in insurance claims.

Actual Cash Value and Replacement Cost Are the Most Common