replacement cost

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  • noun

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current cost of replacing a fixed asset with a new one of equal effectiveness

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References in periodicals archive ?
The services have approximately the value to other family members that a replacement cost approach would place on those activities.
For example, if your organization was established in 1960, review all your accumulated physical assets since then and ask, what would their replacement costs be for 1998?
Citing the "origin of claim" doctrine, the court said the policy was meant to reimburse the Jaskos by providing the replacement cost of a home.
Replacement cost coverage will be used only on assets of final assembly, service and administrative operations except where recovery from calamities would include changes to existing operations due to new technology.
Answer: When the functional replacement cost endorsement does not apply, for example to your roof or kitchen cabinets, then the standard settlement provisions of the policy apply.
360Value Renewal Insight helps solve this problem by providing highly refined, property-specific replacement cost estimates during the renewal process.
We sometimes think that almost all policies are written on a replacement cost basis, but that's not correct.
Policyholders with replacement cost coverage will get what they paid for, and the insurance industry can make that straight-forward statement to ease suspicious minds.
When calculating replacement cost using a cost guide, it is prudent to explain the limitations of calculators and that they are neither a guarantee of accuracy, but merely a means of estimating replacement cost.
The common response was, "Actual cash value is the replacement cost minus depreciation.
a leading provider of Insurance-to-Value Internet applications, announced an agreement to integrate e2Value's Replacement Cost Tools with CDS' RiskMeter Online service.
2002-17, under which automobile dealers can approximate the cost of their vehicle parts inventory, using replacement cost in accordance with the procedure's method (for details on Mountain State, see Gaffaney, Tax Clinic, "Automobile Dealers May Use Replacement-Cost Method to Approximate Vehicle-Parts Inventory Cost," TTA, March 2003, p.
If you own a home, buy at a minimum, full replacement or replacement cost coverage.
Since there is a general agreement as to the replacement cost formula, whether a particular reproduction functional obsolescence formula is correct, is easily determined mathematically.