How do insurance companies define replacement cost?

Answer Insurance companies typically define replacement cost as the cost to repair, replace or rebuild the same property in the same location with materials of comparable quality used for the same purpose... Read More »

Top Q&A For: How do insurance companies define replacement cost

How do insurance companies define sports cars?

Insurance Definition of Sports Car Where Can I Obtain Affordable Auto Insurance Quotes For My Car? Here are opinions and answers from FAQ Farmers: I think it all depends on the company. For instan... Read More »

How do insurance companies define a total auto loss?

Most insurance companies will declare a vehicle a total loss when the cost of repairs are more than the car is worth or the vehicle is so damaged that it can't be safely repaired, according to Geic... Read More »

What is replacement cost insurance?

Protecting a home with homeowners insurance is critical in case of a natural disaster or theft. Knowing what replacement cost is and the benefits will help when choosing insurance options.Definitio... Read More »

How much did Katrina cost insurance companies?

The damage caused by Hurricane Katrina in New Orleans, Louisiana and other portions of the southern Gulf region cost insurance companies $34.4 billion in claims, according to the U.S. Federal Burea... Read More »