What does Like Kind and Quality mean? Read on to discover the definition & meaning of the term Like Kind and Quality - to help you better understand the language used in insurance policies.
Like Kind and Quality
Like kind and quality (LKQ) refers to a condition in property insurance policies that states that the insurer would cover the cost of repairing or replacing a covered loss with property similar to the original in composition and quality.
We hope the you have a better understanding of the meaning of Like Kind and Quality.