The value of an asset as determined by the estimated cost of replacing it.
It is the estimated cost of reconstructing your home or replacing your property. Replacement cost includes labor, materials, overhead, permits, and other fees, without considering deductions by depreciation. For example if your microwave oven is damaged by short circuit, and it is considered a total loss, ABA SEGUROS will pay you the amount needed to buy a new one, that has the same or similar features.
The amount it would cost to replace or rebuild a damaged property. Note: a policy will not pay more than its coverage amount regardless of the value of the property. Coverage is available only for the building portion of a condominium policy. Replacement cost coverage may be available to owners of single family homes. Commercial and apartment buildings are only eligible for their actual cash value.
The amount equal to the cost of replacing an item with a new one rather than the depreciated value of the existing one. [D03234] RMW
Cost of acquiring a new asset to replace an existing asset with the same functional utility.
a valuation system used in determining the monetary value of unpaid work. Calculated on the basis of how much it would cost to pay someone else to do the work. See also opportunity value.
the cost of replacing the property with similar property.
the amount it costs to replace an item in the event of an insurance claim.
The cost to replace an item damaged in a loss at the current market value. Most companies will replace the item at actual cash value, once the item has been replaced will reimburse the insured for the difference.
The cost to replace something with like kind, quality and capacity.
The cost of replacing property without deducting for depreciation.
The full cost to get you the same vehicle with no deduction for depreciation
This is the cost of buying the same or similar items as new if you have to replace them in the event of a claim.
The actual cost to repair or replace damaged property.
The full cost to repair or replace the damaged property with no deduction for depreciation, subject to policy limits and contract provisions.
The cost to repair or replace insured property at its current price with no deduction for depreciation.
The value of property expressed as the cost of replacing it.
The value required to replace current improvements, based on both the cost of construction and duplication of the quality of workmanship (for example, handmade fixtures in older homes).
Current cost of replacing the firm's assets.
The cost of rebuilding a structure. This is usually expressed in terms of cost per square foot, and reflects the present-day cost of labor and materials to construct a building of a particular size, type and quality.
The cost to replace an item on the present market. In claims, the payment of full replacement cost with no deduction for depreciation.
The cash value representing what it would cost to replace the particular article which is the subject of the insurance.
Current cost of replacing the firms assets.
If you have to make a property claim, we will give you the cash value of all the items you have lost. When you replace the item with a similar kind and quality within 180 days of the day it was destroyed, the insurance company will pay you what it cost you to replace the item. This means you are getting the value of new items, not the depreciated value of what your belongings were worth.
What it would cost to buy a particular item from a retail vendor, considering its age and condition -- for instance, to buy a car from a used car dealer, furniture from a used furniture shop,or electronic equipment on eBay.
The term replacement cost or replacement value refers to the amount that an entity would have to pay, at the present time, to replace any one of its assets.
