The cost to replace an asset in current dollars, market conditions, and availability based on an exact like and quality if possible. http://www.trustsig.com/blog/replacement-cost-vs-actual-cost/
Leif Hurst, 10/15/10
The amount it would cost to replace an asset at current prices. If the cost...
The cost of replacing an improvement with another having the same or equal utility, using current standards of material and design, and based on current prices for labor and materials.
The cost which would be incurred in making a fresh purchase of an identical article.
The cost of replacing an existing structure with one of equivalent value and utility.
the amount of money it would cost to replace a damaged or destroyed item with one of like kind and quality at the time of loss.
The replacement cost of a financial instrument is its current value in the market. In the context of interest rate derivatives, it is the cost to replace a given contract should the counterparty to the contract default.
The cost-of-constructing .a substitute structure of equal utility using current materials, design and standards.
A valuation method based on the current market price to replace a given item, rather than its initial or previous cost.
The cost to repair or replace insured property with new property of a like kind and quality in the local market.
Cost of replacing the subject property new with one having exactly the same utility.
The cost as of a certain date to replace old property with new property that can render similar service.
The cost to replace a structure or part thereof with a similar but not necessarily exact structure or part having equivalent function and utility. For example, replacing old lath and plaster walls with drywall.
The current construction cost of a building having exactly the same utility as the subject property.
The cost of replacing or repairing lost or damaged property without allowing for depreciation in value or considering the market value.
the cost, usually determined by independent appraisal, to replace an asset with one of equal usefulness. Usually used for budgeting the replacement of an asset. In some cases, replacement cost and reproduction cost new will be the same
the cost of replacing a company's assets.
Sum it takes to replace an insured's damaged or destroyed property with one of like kind and quality, equivalent to the actual cash value, minus physical depreciation (fair wear and tear) and obsolescence.
current cost of replacing a fixed asset with a new one of equal effectiveness
The cost to construct, at current prices, an improvement that is equivalent in utility to an existing structure, using modern building materials and according to current standards.
Replacement cost is defined as the total development cost to recreate the building and its economics in today's dollars. Development cost includes construction costs, customer improvements, commissions, marketing costs, construction period interest, land, Architectural and Engineering fees, development fees, parking lot/garage costs and all other costs, hard and soft, to reproduce the property.
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 current cost to construct an exact duplicate of the subject property having the same utility, design, layout and quality of workmanship, but using modern materials.
The cost of replacing property without a depreciation reduction. For example, with homeowners insurance, replacement cost coverage would be the amount it would take to replace contents, rebuild your home or repair damages with materials of like kind and quality, without subtracting for depreciation. To receive the full benefits, you may be required to have a certain amount of coverage.
A property valuation method where the value of the amount of loss is set by the current cost to replace damaged property with property of like kind and quality and current prices without deduction for depreciation. In order for an insured to receive replacement cost coverage, he or she must agree to be insured to at least 80% of the replacement cost value at the time of loss.
the cost of replacing the remaining cash flows of a derivative at the prevailing prices and market interest rates.
The cost of replacing or repairing property at the time of loss (i.e. the cost of replacing the property without considering depreciation).
Pays what it would cost to replace your home and the contents.
Amount required to replace damaged or destroyed property of comparable quality, at today's prices.
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 amount that it costs to replace lost or damaged property with new property of like kind and quality in the local market.
The cost new today to purchase property of like utility as the equipment to be replaced, assuming no physical deterioration and economic obsolescence neither greater nor lesser than the subject property.
The cost, including material, labor, and overhead, that would be incurred in constructing an improvement having the same utility to its owner as the improvement in question.
The cash value representing what it would cost to replace the particular article which is the subject of the insurance.
When your insurance company pays your property claim for the amount required to replace your property, rather than the depreciated value of the item. This will be specified in the terms of your policy.
The cost at current prices to construct a functionally similar property that is not necessarily an exact duplicate of the subject property.
The cost to replace an existing property with a property of equivalent utility.
The cost to replace a damaged or destroyed item of property, without deduction for depreciation. May be the basis of reimbursement for some losses.
The present day cost to replace an already existing building
The estimated cost to construct, at current prices as of the effective appraisal date, a building with utility equivalent to the building being appraised, using modern materials and current standards, design and layout.
The cost of replacing a lost or destroyed item; does not factor in depreciation or market value.
A method of valuation, often added by an Endorsement to a Property Insurance policy, that pays claims based on present-day prices, without considering depreciation, for repairing or replacing the damaged property with materials of like, kind and quality. See also Actual Cash value.
The cost associated with replacing property at current market prices.
The current cost of producing a similar building or piece of equipment equal in utility and quality to the building or equipment already existing.... read full article
Amount required to replace an insured's damaged or destroyed property with one of similar kind and quality, without a reduction for depreciation.
The cost of construction, at current prices, of a structure having equal utility.
The cost to replace a damaged or destroyed item of property, without deducting depreciation. May be the basis of reimbursement for loss to buildings, or by endorsement, to personal property.
the cost of erecting a building to replace or serve the functions of a previous structure.
The current cost of replacing the subject property with property having exactly the same utility and amenities.
The cost of repairs or replacement, whichever is less, without deduction for depreciation. Compare with Actual Cash Value.
the replacement cost of a financial instrument is its current market value. In credit risk terms, it is the cost of replacing a given contract if the counterparty defaults.
The amount required to replace your damaged property with one of like kind and quality without any reduction for depreciation.
is the cost that would be incurred to replace an existing school facility based upon current cost allowances established by the State.
The actual cost to repair or replace damaged property which is covered under the terms of the policy. Some insurance companies deduct depreciation from this amount when making payment or only pay the fair market value of the damaged property until the work is actually completed or the item replaced.
Property insurance that pays for the current replacement cost of property without deduction for depreciation.
The cost to replace damaged personal property without a deduction for depreciation.
A method of setting the value of inventories based upon the cost of the next purchase.
An insurance term, the total cost of erecting a new home or building which adequately takes the place of the existing one.
The current cost of a unit of an asset.
Coverage costs for replacing property with new material; depreciation is not taken into consideration.
In appraisal, the amount of money that would be needed (on the basis of current prices) to replace a structure with one having the same utility, but constructed with modern materials, design, etc. COMPARE: Reproduction Cost.
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.
The cost of construction, at current prices, of a building having utility equivalent to the building being appraised but built with modern materials and according to current standards, design, and layout. It is commonly used in the cost approach to value in an appraisal.
The cost to repair or replace an item with a new one without any deduction for depreciation.
The cost at current prices in a particular locality or market area of replacing an item of property or a group of assets.
The cost to replace the property today with new materials of like kind and quality.
The cost of replacing the subject property with a new property having the same amenities and utility.
The cost of constructing new a building or other improvement to land having utility equivalent to the unit being appraised but built with modern materials and according to current standard designs and layout.
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 construction cost at current prices of a property that is not necessarily an exact duplicate of the subject property but serves the same purpose or function as the original.
This is the amount it takes to replace an Insured's damaged or destroyed property with one of like kind and quality. The objective is to put the Insured back in the financial position it would have been in had no loss occurred.
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.
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.
The cost to replace lost or damaged property subject to the limit of insurance on the policy.
The cost of replacing the damaged property with new property of like kind and quality without deduction for depreciation. (See Actual Cash Value)
Estimated cost of replacing an asset at the current balance sheet date
Cost to replace a firm's assets.
The cost to replace a structure with one of equivalent value and function, but not necessarily identical in design or materials.
Insurance that pays the dollar amount needed to replace damaged personal property or dwelling property without deducting for depreciation but limited by the maximum dollar amount shown on the declarations page of the policy.
The cost of replacing a property damaged or lost with similar property.
The current cost to replace a building or possessions with new materials or items of the same kind and quality. Replacement cost may be used to help determine the amount of insurance on your property. If your policy provides for replacement cost settlement of losses, the company will not consider depreciation when determining the amount to pay for your loss.
The amount or cost to rebuild and refurnish with materials and items of similar value. For example, replacement costs are used for insurance purposes in the event of theft or fire when replacing lost items.
With regard to appraisal; it is the cost of building a new structure (using modern materials, and according to current standards, design and layout) that is comparable to that of the building being appraised.
Cost to replace a firms assets.
The cost of constructing a building today with a structure having the same functional utility as a structure being appraised. The cost would include modern materials constructed using modern techniques. See also reproduction cost, building cost.
VALUATION method providing that the insured will be paid the cost of replacing the damaged property without deduction for DEPRECIATION. It is essentially an exception to the principle of INDEMNITY, because the insured is receiving new property to replace used property that was lost. The usual replacement cost wording provides that the property must actually be replaced before the insured may collect a claim under it - i.e., if the insured chooses a cash payment, rather than making repairs, the coverage reverts to ACTUAL CASH VALUE.
The cost to repair or replace property at construction costs prevailing at time of loss; the cost to repair or rebuild property without considering depreciation. Contrast Actual Cash Value.
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.
Cost for a new comparable (like kind and quality) model or item to replace damaged, stolen, or destroyed property.
The value of property determined by the current purchase price of a similar article.
The current cost of rebuilding a structure to its original specifications.
The amount one would have to pay to rebuild and refurnish with materials and items of similar value.