Wiederbeschaffungswerte

Wiederbeschaffungswert is a term used in German insurance and risk management that refers to the cost of replacing an item with a new one of similar kind and quality at current prices. It represents the amount needed to obtain a comparable asset in today’s market, including typically necessary ancillary costs such as taxes, delivery, and installation, but excluding the remaining value of the old asset.

In contrast to the Zeitwert (actual cash value), which reflects depreciation for age and wear, the Wiederbeschaffungswert aims to capture the price of a modern replacement. The concept is closely related to the Neuwert or replacement value, though precise definitions can vary by policy and jurisdiction. In practice, insurers use the Wiederbeschaffungswert to determine payouts in case of partial or total loss, subject to contract terms, deductibles, and potential salvage rights.

Application and limits: Wiederbeschaffungswert is commonly used in property and motor vehicle insurance. Payouts based on this value may be reduced by policy exclusions, depreciation in some cases, or by the value of salvage. Some policies specify that the payment covers a replacement with a model of equivalent quality rather than the exact original item. The exact calculation can depend on market prices, inflation, and the insured item’s specifications.

Overall, Wiederbeschaffungswert provides a forward-looking measure of replacement cost, emphasizing current market prices rather than the item’s age or condition at the time of loss.