What Does Replacement Cost Policy Mean?

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

Replacement Cost Policy

Replacement Cost Policy

Type of homeowners insurance policy that covers the cost to replace or repair the building and/or personal possessions (up to the policy's limit) which is more than the value covered by an actual cash value policy or a market value policy.

We hope the you have a better understanding of the meaning of Replacement Cost Policy.

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