Which factor is NOT considered in determining actual cash value?

Actual cash value (ACV) is a method used by insurers to determine the value of property at the time of a loss. It is typically calculated by taking the replacement cost of the property and subtracting depreciation. In this context, various factors contribute to determining the ACV, such as the market value of the property, which reflects what others would pay for it in its current state, restoration costs needed to bring the property back to its pre-loss condition, and depreciation, which accounts for the wear and tear or obsolescence that has occurred over time.

The insurance premium paid, however, does not factor into the calculation of actual cash value. While the premium reflects the cost of coverage and may be related to the perceived value and risk associated with insuring the property, it does not provide any direct assessment of the property's value at the time of loss. Instead, it is a separate financial consideration related to the policy itself, rather than the tangible value of the insured item. Therefore, of the options provided, the insurance premium paid is not a factor considered in determining actual cash value.