Principles Applicable to Claims for Recovery on a Replacement Cost Basis

Many commercial first-party property insurance contracts detail circumstances under which an insured may seek and recover for physical loss or damage to insured property on a replacement cost basis. If the contract does not provide that option, or if the conditions for replacement cost recovery are not met, the insured's recovery typically is limited to the actual cash value of the lost or damaged property. Because the measured difference can be substantial, certain principles have evolved in practice and case law concerning this distinction.

32 minute read August 30, 2011 at 03:59 PM
By
Catherine A. Mondell And And M. Patrick Moore, JR.
Principles Applicable to Claims for Recovery on a Replacement Cost Basis

Many commercial first-party property insurance contracts detail circumstances under which an insured may seek and recover for physical loss or damage to insured property on a replacement cost basis.

This premium content is locked for LawJournalNewsletters subscribers only

ENJOY UNLIMITED ACCESS TO THE SINGLE SOURCE OF OBJECTIVE LEGAL ANALYSIS, PRACTICAL INSIGHTS, AND NEWS IN LawJournalNewsletters

  • Stay current on the latest information, rulings, regulations, and trends
  • Includes practical, must-have information on copyrights, royalties, AI, and more
  • Tap into expert guidance from top entertainment lawyers and experts

Already have an account? Sign In Now

For enterprise-wide or corporate access, please contact Customer Service at [email protected] or call 1-877-256-2473.

NOT FOR REPRINT

© 2026 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Continue Reading

Law firms are shifting toward financing strategies that allow them to invest in growth while increasing flexibility, liquidity and long-term planning discipline. The conversation is no longer simply about acquiring equipment. It is about building a financial structure that supports continuous operational growth.

July 02, 2026

Why advanced AI will change legal practice without making lawyers obsolete.The future value of lawyers will come less from generating first drafts and more from knowing how to choose, feed, test and deploy professional systems in a way that serves the client’s strategy.

June 30, 2026

Companies are no longer judging leaders on what they have already done. They are judging them on whether they can lead what is coming next. And what is coming next demands exactly the quality that defined the Oregon Trail generation: the ability to navigate genuine transformation, not just manage through disruption.

June 30, 2026