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Help Replacement Cost

Replacement Cost:

Replacement cost means the cost to replace the damaged, destroyed or stolen property, without deduction for depreciation, with new property of like kind and quality using conventional materials and construction methods which are available at the time of the loss.

Replacement cost does not mean:

1. Loss, damage or increased loss caused by enforcement of any governmental requirement regulating construction, repair occupancy, renovation or remodeling.

2. Any Cost required to repair, rebuild, stabilize or oherwise restore the land.