Replacement cost is a method that assigns value to a piece of property by considering the cost of repairing or replacing the property without taking into account depreciation (contrast with Actual Cash Value)
The cost of restoring damaged property to the exact condition it was in or replacing it with something of like kind and quality
The cost of replacing or repairing lost or damaged property without allowing for depreciation in value or considering the market value
Coverage for the cost of replacing damaged property at the time of loss with that of similar kind and quality If you carry replacement cost coverage and have a loss, the insurer pays for the cost of a new replacement, minus any policy deductible
amount of money required to repair and replace an existing property with property of the same material and construction without deducting for depreciation
The cost to replace damaged personal property without a deduction for depreciation
(Ticaret) A valuation method based on the current market price to replace a given item, rather than its initial or previous cost
The cost of replacing the damaged property with new property of like kind and quality without deduction for depreciation (See Actual Cash Value)
A determination of the cost to replace contents, rebuild your home, or repair damages with materials of like kind and quality, without subtracting for depreciation
The cost to repair or replace an item with a new one without any deduction for depreciation
Property The cost of replacing property without a reduction for depreciation By this method of determining value, damages for a claim would be the amount needed to replace the property using new materials Contrast with Actual Cash Value
The cost to repair or replace an insured item Some insurance only pays the actual cash or market value of the item at the time of the loss, not what it would cost to fix or replace it If you have personal property replacement cost coverage, your insurance will pay the full cost to repair an item or buy a new one
An insurance term, the total cost of erecting a new home or building which adequately takes the place of the existing one