New Car Replacement Insurance Cost. In the insurance industry, replacement cost is the amount the insurance company will pay to replace the car if it is damaged or stolen. Replacement cost is the amount of money it would cost to rebuild.
Or pay you the reasonable replacement cost. In the event of a total loss of the insured vehicle, we will pay for the replacement cost of said vehicle by another new vehicle with the same specifications and equipment. Insurance issued by aai limited abn 48 005 297 807 trading as gio.