replacement insurance

replacement insurance
Insurance coverage which provides that the loss will be measured by replacement of the property new. If the property is actually replaced, the measure is the difference between the depreciated value and the replacement cost

Black's law dictionary. . 1990.

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  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • insurance — A contract whereby, for a stipulated consideration, one party undertakes to compensate the other for loss on a specified subject by specified perils. The party agreeing to make the compensation is usually called the insurer or underwriter; the… …   Black's law dictionary

  • Replacement cost — Cost to replace a firm s assets. The New York Times Financial Glossary * * * replacement cost replacement cost ➔ cost1 * * *    The cost in current terms of replacing a fixed asset already in use with a new asset. * * * replacement cost UK US… …   Financial and business terms

  • replacement cost — cost to replace a firm s assets. Bloomberg Financial Dictionary * * * replacement cost replacement cost ➔ cost1 * * *    The cost in current terms of replacing a fixed asset already in use with a new asset. * * * replacement cost UK US noun [C] ( …   Financial and business terms

  • replacement cost insurance — insurance that pays out the full amount required to replace damaged property with new property, without taking into account the depreciated value of the property. Bloomberg Financial Dictionary …   Financial and business terms

  • insurance — /in shoor euhns, sherr /, n. 1. the act, system, or business of insuring property, life, one s person, etc., against loss or harm arising in specified contingencies, as fire, accident, death, disablement, or the like, in consideration of a… …   Universalium

  • Replacement value — The term replacement cost or replacement value refers to the amount that an entity would have to pay to replace an asset at the present time, according to its current worth. In the insurance industry, replacement cost or replacement cost value is …   Wikipedia

  • Replacement Cost — The cost to replace the assets of a company or a property of the same or equal value. The replacement cost asset of a company could be a building, stocks, accounts receivable or liens. This cost can change depending on changes in market value.… …   Investment dictionary

  • Insurance Australia Group — Infobox Company name = Insurance Australia Group Limited type = Public (ASX: [http://www.asx.com.au/asx/research/CompanyInfoSearchResults.jsp?searchBy=asxCode allinfo=on asxCode=IAG companyName= principalActivity= industryGroup=NO IAG] )… …   Wikipedia

  • Insurance Proceeds — The benefit proceeds paid out by any type of insurance policy as a result of a claim. Insurance proceeds are paid out once a claim has been verified, and financially indemnify the insured for a loss that is covered under the policy. Insurance… …   Investment dictionary

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