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Replacement Costs

This differs from an upgrade, which is usually excluded. Replacement costs cover restoring the same capacity, not improving it. Each policy defines what counts as a replacement cost; many exclude "betterment", meaning upgrades beyond the original state.

Related Term

All Category

This differs from an upgrade, which is usually excluded. Replacement costs cover restoring the same capacity, not improving it. Each policy defines what counts as a replacement cost; many exclude "betterment", meaning upgrades beyond the original state.

Related Term

All Category

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