In property insurance, which term refers to the replacement cost of damaged property without depreciation?

The term that refers to the replacement cost of damaged property without depreciation is replacement cost. Replacement cost coverage typically involves reimbursing the policyholder for the full cost to replace an item with a new one of similar kind and quality, regardless of the item's original purchase price or its depreciation over time. This type of coverage ensures that the insured can restore their property to its original condition without suffering a financial loss due to depreciation.

In contrast, actual cash value takes into account depreciation, meaning that the payout would be based on the current market value of the property at the time of loss, not the cost to replace it. Intrusive damage and stated value are not standard terms used to express replacement cost; intrusive damage generally refers to damage that requires direct intervention, while stated value refers to an agreed-upon amount that is not necessarily tied to the replacement cost or actual cash value.