Functional replacement value

The functional replacement value is understood to mean:

"the amount required for the acquisition of objects of the same kind, quality and maintenance level, equipped for the present purpose". 

This includes the costs of drawing up, starting up, adjusting, engineering, project supervision, import duties, etc.

Value Terms

Insurance valuations glossary

Reinstatement value

Insurance valuations glossary

Functional reinstatement value

Insurance valuations glossary

Replacement value