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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. [1] In the insurance industry, "replacement cost" or " replacement cost value " is one of several methods of determining the value of an insured item.
Notable works. Organizations and groups. People. Related social movements. See also. v. t. e. In economics and industrial design, planned obsolescence (also called built-in obsolescence or premature obsolescence) is the concept of policies planning or designing a product with an artificially limited useful life or a purposely frail design, so ...
Replacement cost coverage is typically included for the dwelling and other structures components of a standard home insurance policy. It does typically cost more to add a personal property ...
Warranty. In law, a warranty is an expressed or implied promise or assurance of some kind. The term's meaning varies across legal subjects. [1] In property law, it refers to a covenant by the grantor of a deed. [2] In insurance law, it refers to a promise by the purchaser of an insurance about the thing or person to be insured.
If you have a homeowners policy that covers your roof on a replacement cost basis, the insurance company is agreeing to pay you what it would cost to replace your roof with a comparable new roof.
Substitute good In microeconomics, substitute goods are two goods that can be used for the same purpose by consumers. [1] That is, a consumer perceives both goods as similar or comparable, so that having more of one good causes the consumer to desire less of the other good. Contrary to complementary goods and independent goods, substitute goods may replace each other in use due to changing ...
Cache replacement policies. In computing, cache replacement policies (also known as cache replacement algorithms or cache algorithms) are optimizing instructions or algorithms which a computer program or hardware-maintained structure can utilize to manage a cache of information. Caching improves performance by keeping recent or often-used data ...
Liquidation value. is the likely price of an asset when it is allowed insufficient time to sell on the open market, thereby reducing its exposure to potential buyers. Liquidation value is typically lower than . [1] Unlike or other available liquid assets, certain assets, like real estate, often require a period of several months in order to ...