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Today's Terms
Replacement Cost
Definition:
Replacement cost is the cost of replacing lost or damaged property with new property of like kind and quality, at current market prices.
Claim
Definition:
Notice to an insurer of a loss that under the terms and conditions of a policy may be covered.
Comprehensive Coverage
Definition:
Pays for damage to your car caused by reason other than collision, such as fire, theft, windstorm, flood, etc.
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