What is Replacement Cost Cover (Strata) | Insurance glossary by upcover

Replacement cost cover pays to replace damaged buildings or property with new items of similar quality. It does not deduct for wear and tear or depreciation. Strata schemes should regularly check that their sum insured matches the full cost of rebuilding today.

Related Terms

Sum Insured (Strata)

Market Value Cover (Strata)

Depreciation (Motor)

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Related Term

Sum Insured (Strata)

Market Value Cover (Strata)

Depreciation (Motor)

All Category

Financial

Legal

Insurance Documents

Fundraising

Employment

Policy

Risk Management

E&O

D&O

Commercial Insurance

Cyber

Compliance

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