MLchartDataset catalogue

Replacement cost (RC)

Term · Insurance and risk management · MLC-T-INS-002888

The cost to replace damaged or destroyed property with new property of similar kind and quality, without deduction for depreciation. This valuation method provides the insured with sufficient funds to restore their property to its original condition. Many property insurance policies offer replacement cost coverage for buildings and personal property.

Table 1. Record
IdentifierMLC-T-INS-002888
FieldInsurance and risk management
AbbreviationRC
Record as JSON 
{
  "id": "MLC-T-INS-002888",
  "term": "Replacement cost (RC)",
  "field": "Insurance and risk management",
  "definition": "The cost to replace damaged or destroyed property with new property of similar kind and quality, without deduction for depreciation. This valuation method provides the insured with sufficient funds to restore their property to its original condition. Many property insurance policies offer replacement cost coverage for buildings and personal property.",
  "abbreviation": "RC",
  "url": "https://mlchart.com/terminology/insurance/replacement-cost-rc/"
}

Record 2,921 of 3,708 in Insurance and risk management terminology (MLC-0106). Request the full dataset.