What Does Replacement Cost Less Physical Depreciation and Obsolescence Mean?

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What does Replacement Cost Less Physical Depreciation and Obsolescence mean? Read on to discover the definition & meaning of the term Replacement Cost Less Physical Depreciation and Obsolescence - to help you better understand the language used in insurance policies.

Replacement Cost Less Physical Depreciation and Obsolescence

Replacement Cost Less Physical Depreciation and Obsolescence

Replacement cost less physical depreciation and obsolescence is the amount that an insurance company will pay for an insured property after it considers the diminished value because of wear and tear or because new technology has replaced it in the market.

We hope the you have a better understanding of the meaning of Replacement Cost Less Physical Depreciation and Obsolescence.

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