What is meant by replacement value

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What is meant by replacement value when it comes to insurance? What amount would it cost an insurance company to replace a family’s personal property that originally cost $10,000 if the replacement costs for the items have increased 10 percent?

Reference no: EM131067153

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What is meant by replacement value : What is meant by replacement value when it comes to insurance? What amount would it cost an insurance company to replace a family’s personal property that originally cost $10,000 if the replacement costs for the items have increased 10 percent?
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