What Does Replacement Value Mean?

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

Replacement Value

Replacement Value

Replacement value is a property insurance term referring to the cost of replacing an asset in its pre-loss condition with an asset of a like kind and quality.

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

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