Sentences with phrase «instead of actual damages»

Not exact matches

Actual cash value pays the current, depreciated value of an item that was damaged instead of the cost of replacing the damaged item with a new one.

It's normally a very simplistic, frequentist type approach to an individual type of event, either chosen to be quite specifically regional or chosen to be even rarer than the actual climatic event itself (flooding instead of precipitation, cyclone landfall rather than cyclones overall, damage or cost,...).

Punitive damages are not directly tied to the actual losses of the victim, but are instead awarded to punish the extremely bad behavior of the defendant.