replacement cost
noun[C]
ukus(alsocost of replacement)INSURANCE,FINANCE
theamountofmoneyitcoststoreplacesomething that isdamaged,lost,stolen, etc. with something new:
Theestimatedreplacementcostis $800,000.
Intimesofinflationthereplacementcostof anassetmay be muchgreaterthanitsoriginalcost.