Claims & Insurance
Replacement cost value
What it costs to repair or replace the damage with like kind and quality at today's prices, without deducting for age. Most policies pay it only after the work is done and invoiced, so keep receipts and completion photos to collect the recoverable depreciation.
More claims & insurance terms
- Rebuttal
A written, evidence-backed response explaining why the carrier's estimate does not fully cover the loss.
- Reopened claim
A closed claim that the carrier puts back into active status, usually because new damage, a supplement, or a missed item surfaced after payment. Reopening has its own time limits and documentation rules that vary by carrier and state, so ask what they require before resubmitting.
- Reservation of rights
A letter in which the carrier says it is still investigating coverage and may deny the claim later. It is not a denial, but it means every dollar needs documentation, so keep working the file and answer requests on time.
- Roofing consultant
An independent inspector who documents roof condition and writes a report supporting either the property owner or the carrier. In a disputed claim, their report can push a scope disagreement toward resolution. A consultant advises and documents but does not approve payment.
- S500 standard
The IICRC's water damage restoration standard that sets the categories and classes of water loss and the standard drying approach. In a claim it is the baseline for what counts as reasonable drying. It is a restoration standard, not a policy or a payment rule.
- S520 standard
The IICRC's mold remediation standard covering how mold work is assessed, contained, and cleaned. When a claim includes mold, adjusters and remediators point to this standard to justify the scope. Its fit on a given loss depends on the carrier.
Common questions
What does "Replacement cost value" mean in Xactimate estimating?
What it costs to repair or replace the damage with like kind and quality at today's prices, without deducting for age. Most policies pay it only after the work is done and invoiced, so keep receipts and completion photos to collect the recoverable depreciation.
Where does "Replacement cost value" show up in a claim?
The term matters on estimates and scopes across the insurance restoration workflow. Browse the glossary for related terms.
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