Tag Archive: replacement cost

Replacement Cost and Market Value: What’s the Difference?

If we asked you what’s the difference between replacement cost and market value, what would you say? In case you don’t know the answer, we’re here to quickly clarify what these two insurance terms mean.  Re-place-ment Cost  Noun  According to BusinessDictionary, replacement cost is defined as: “Current cost of replacing an existing asset or property…