Final answer:
The insurance premium paid is not a factor in the determination of actual cash value, which is usually calculated based on the property type, age, and replacement cost minus depreciation.
Step-by-step explanation:
The element that is not a factor in the determination of actual cash value is D) Insurance premium paid. Actual cash value is generally calculated by considering the replacement cost of the item less depreciation. This includes factors such as Type and quality of property, Age of the property, and Replacement cost. The amount of insurance premium paid is typically related to the risk assessment and insurance policy terms, not to the calculation of the property's actual cash value after a loss has occurred.