replacement value
noun[C]
ukusINSURANCE,FINANCE
theamountofmoneythat it wouldcosttoreplacesomething that isdamaged,lost,stolen, etc. with something new:
Thereportestimatedthereplacementvalueof thetunnelsat $50.5 million.
Keep inmindthatreplacementvalueis not the same asmarketvalue.
Compare
market value