Definition of Replacement coverage


Replacement coverage means the benefits provided by a succeeding carrier.
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Examples of Replacement coverage in a sentence

Replacement coverage means the cost to repair or replace the structure(s) on the Property at the time of loss or damage, without deduction for physical deterioration or depreciation.
Replacement coverage is limited to once every two (2) years due to irreparable damage and/or normal wear, or a significant change in medical condition.
Replacement coverage applies only if replacement is made at the described premises: We may waive this requirement in writing if building laws prohibit replacement at the described premises (then see Supplemental Coverage 2), or for other reasons acceptable to us.