replacement value

Definition of "replacement value"
  1. The cost of acquiring a new item identical or similar to the current one, considering its age and condition
How to use "replacement value" in a sentence
  1. The insurance company paid the replacement value of the lost necklace.
  2. The replacement value of the damaged car was determined by an assessor.
  3. The replacement value of the old laptop was surprisingly high due to its unique specifications.

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