replacement cost

noun

: the cost of replacing property with property of like kind and equal quality or effectiveness

Dictionary Entries Near replacement cost

Cite this Entry

“Replacement cost.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/replacement%20cost. Accessed 28 Dec. 2024.

Love words? Need even more definitions?

Subscribe to America's largest dictionary and get thousands more definitions and advanced search—ad free!