"Actual value" refers to the real or true worth or importance of something. It represents the genuine or accurate measure of its quality or significance, as opposed to perceived or subjective value. Full definition
Under insurance: If actual value of insured property at the time of loss under fire benefit is greater than the sum insured opted then the claim is reduced in the same proportion. (policybazaar.com)
But on the other hand, maybe the ratio of speculation to actual value in the blockchain space has never been higher, which is saying a lot. (techcrunch.com)
Also, check your policy to see if it pays out based on actual value or replacement value. (pocketsense.com)