Insurance which replaces lost, stolen or destroyed property by paying current market prices, rather than depreciated value.
A type of homeowners' insurance that pays the policyowner the full cost of replacing the lost or damaged property, subject to a maximum amount.
A form of property insurance in which the insured is indemnified for property losses based upon replacement cost, without regard to depreciation.
Insurance that pays out the full amount required to replace damaged property with new property, without taking into account the depreciated value of the property.
Protection which pays the cost to restore or replace damaged or destroyed property without deduction for depreciation. Automatically included in homeowners forms.
insurance which pays the full value of damaged or destroyed without taking depreciation into consideration. BACK TO THE TOP
Insurance that pays the amount needed to replace the damaged personal possession with items of like kind and quality, without depreciation.
Insurance that pays the amount needed to replace the damaged property, without deducting for depreciation, but is limited to the amount listed on the declarations page of the insurance policy.
Insurance that provides that loss will be paid on a replacement cost basis. See also Replacement Cost.
Insurance of property for the cost of its replacement without deduction for depreciation, conditionally upon the sum insured being the replacement value.
Insurance designed to provide coverage on the basis of full replacement cost without deduction for depreciation on any loss sustained, subject to the terms of the co-insurance clause. This coverage applies to both building and contents items as specified on the face of the policy. No deduction is taken for depreciation in arriving at the proper amount of insurance needed to comply with the coinsurance clause.
Covers property, both building and contents, on the basis of full replacement cost without deduction for depreciation on any loss sustained, subject to the terms of the co-insurance clause.