replacement insurance

Insurance under which the value of the loss is measured by the current cost of replacing the insured property. See replacement cost under COST(1). [Cases: Insurance 2184. C.J.S. Insurance §§ 1107, 1238, 1240, 1242–1243.]

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词条贡献者

双语律师Pablo，国际知名法学院法律专业，擅长翻译涉及高端品牌及消费品领域的法律文件。