Comparable Replacement Cost

Comparable replacement cost is defined as the amount of money that would be required to replace an item with another of similar age, quality, origin, appearance, condition and utility, within a reasonable length of time (6 months or less) and in the appropriate and relevant market where the property is customarily sold to the public.

Many personal property Items, by their nature are not "exactly" replaceable. An accredited appraiser will determine a comparable replacement cost for your personal property for insurance purposes.